Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $180.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by Royal Bank Of Canada from $160.00 to $180.00 in a research report report published on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other research firms have also commented on NBIX. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Citigroup increased their price target on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Stifel Nicolaus lifted their price objective on Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Neurocrine Biosciences Trading Up 0.4%

Shares of NBIX stock opened at $155.63 on Monday. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 1.02 and a beta of 0.27. The stock has a 50-day moving average of $144.68 and a 200-day moving average of $136.79. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 earnings per share. Sell-side analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares in the company, valued at $1,013,339.16. This trade represents a 67.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the sale, the director owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 37,676 shares of company stock valued at $5,624,529. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Eastern Bank bought a new position in shares of Neurocrine Biosciences in the third quarter valued at approximately $27,000. WPG Advisers LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter valued at approximately $32,000. Finally, Quent Capital LLC bought a new stake in Neurocrine Biosciences during the third quarter worth $32,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

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.