Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $138.00 by Analysts at BMO Capital Markets

Neurocrine Biosciences (NASDAQ:NBIX) had its target price boosted by stock analysts at BMO Capital Markets from $129.00 to $138.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 1.93% from the stock’s current price.

Several other research analysts also recently weighed in on NBIX. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Wedbush reissued an “outperform” rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Mizuho increased their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

NASDAQ:NBIX traded up $0.88 during mid-day trading on Thursday, hitting $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The business has a fifty day simple moving average of $137.37 and a 200-day simple moving average of $128.78. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.79 earnings per share for the current year.

Insider Activity

In related news, insider David W. Boyer sold 456 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider David W. Boyer sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the transaction, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David W. Boyer sold 456 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the sale, the insider now owns 4,894 shares in the company, valued at $694,752.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,547 shares of company stock valued at $25,039,887. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Mediolanum International Funds Ltd acquired a new stake in Neurocrine Biosciences in the first quarter worth about $1,351,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Neurocrine Biosciences by 33.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock worth $681,000 after acquiring an additional 1,235 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter worth approximately $891,000. Daiwa Securities Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 32.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock valued at $1,185,000 after acquiring an additional 2,109 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $99,000. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.