Truist Financial Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $155.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by stock analysts at Truist Financial from $140.00 to $155.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 1.81% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Guggenheim reiterated a “buy” rating and set a $175.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $176.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Morgan Stanley upped their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $184.15.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $152.25 on Thursday. Neurocrine Biosciences has a 1 year low of $115.66 and a 1 year high of $160.18. The company’s 50-day moving average is $131.12 and its 200 day moving average is $137.85. The stock has a market capitalization of $15.31 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.26 and a beta of 0.34.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The company had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the prior year, the firm earned $1.69 EPS. Neurocrine Biosciences’s quarterly revenue was up 28.3% compared to the same quarter last year. Research analysts anticipate that Neurocrine Biosciences will post 6.57 earnings per share for the current year.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake 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 buying an additional 1,263,633 shares in the last quarter. Norges Bank bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $162,664,000. UBS Group AG lifted its stake in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after purchasing an additional 468,405 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $65,162,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences News Summary

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.