Canaccord Genuity Group Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $164.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by Canaccord Genuity Group from $154.00 to $164.00 in a research note issued to investors on Thursday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

NBIX has been the subject of a number of other reports. Barclays upped their price target on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an overweight rating in a research note on Thursday. Needham & Company LLC reiterated a hold rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Cantor Fitzgerald reissued an overweight rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Finally, Guggenheim upped their price objective on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a buy rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of Moderate Buy and an average target price of $147.88.

Neurocrine Biosciences Stock Up 0.7 %

Shares of Neurocrine Biosciences stock traded up $1.00 during trading on Thursday, hitting $141.71. The stock had a trading volume of 483,775 shares, compared to its average volume of 849,584. The company has a market capitalization of $14.26 billion, a PE ratio of 39.38 and a beta of 0.28. The stock has a 50 day simple moving average of $137.37 and a 200 day simple moving average of $129.00. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, equities analysts expect that Neurocrine Biosciences will post 4.78 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard F. Pops sold 1,700 shares of Neurocrine Biosciences stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $140.05, for a total transaction of $238,085.00. Following the sale, the director now directly owns 29,512 shares of the company’s stock, valued at $4,133,155.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The disclosure for this sale can be found here. In the last three months, insiders sold 181,547 shares of company stock valued at $25,039,887. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FCF Advisors LLC bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $1,157,000. abrdn plc raised its stake in shares of Neurocrine Biosciences by 2,503.0% during the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after purchasing an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,245,000. HealthInvest Partners AB acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $1,662,000. Finally, Roman Butler Fullerton & Co. bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $1,256,000. 92.59% of the stock is currently 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.