Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $175.25

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $175.25.

A number of research firms recently weighed in on NBIX. Truist Financial reaffirmed a “buy” rating and set a $172.00 price objective (up previously from $165.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 30th. Piper Sandler raised their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $140.60 on Wednesday. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $160.18. The firm has a market cap of $14.02 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 0.69 and a beta of 0.28. The company has a 50-day moving average of $146.96 and a 200 day moving average of $139.47.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter in the prior year, the company earned $1.81 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. On average, equities analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares of the company’s stock, valued at $6,127,455.20. This represents a 30.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 43,866 shares of company stock worth $6,570,237 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $27,000. Quent Capital LLC bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $32,000. Finally, MAI Capital Management boosted its holdings in Neurocrine Biosciences by 101.2% in the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after purchasing an additional 165 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Company Profile

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.