Stifel Nicolaus Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $188.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by analysts at Stifel Nicolaus from $183.00 to $188.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 21.96% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada increased their price objective on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Citigroup raised their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Truist Financial reissued a “buy” rating and set a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a report on Thursday, October 30th. Finally, Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $173.25.

Neurocrine Biosciences Trading Down 1.0%

Shares of NBIX opened at $154.15 on Thursday. The firm has a market cap of $15.37 billion, a PE ratio of 36.73, a P/E/G ratio of 1.02 and a beta of 0.27. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The stock has a fifty day moving average price of $144.68 and a 200-day moving average price of $136.79.

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

Insider Buying and Selling

In related news, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares in the company, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. The trade was a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 37,676 shares of company stock worth $5,624,529. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the company. Dodge & Cox lifted its stake in shares of Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the period. JPMorgan Chase & Co. increased its holdings in Neurocrine Biosciences by 59.6% in the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after buying an additional 1,590,749 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares during the period. Norges Bank acquired a new position in shares of Neurocrine Biosciences in the second quarter worth about $122,278,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock worth $93,595,000 after acquiring an additional 740,842 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.