Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $253.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Citigroup from $249.00 to $253.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wedbush boosted their price objective on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Piper Sandler upped their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company increased their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.05.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $155.64 on Thursday. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 0.73 and a beta of 0.38. The stock has a fifty day moving average price of $165.98 and a two-hundred day moving average price of $150.28. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, research analysts predict that Neurocrine Biosciences will post 7.25 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 8,433 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76. Following the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. This represents a 34.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,188 shares of company stock worth $7,118,633 in the last three months. Insiders own 4.60% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of the company. DJE Kapital AG bought a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. increased its position in shares of 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 in the last quarter. Meeder Asset Management Inc. raised its stake in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. Basecamp Wealth Advisors LLC lifted its holdings in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences in the first quarter valued at about $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.