Barclays Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $169.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by analysts at Barclays from $150.00 to $169.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 20.11% from the company’s current price.

Several other analysts have also recently issued reports on the company. HC Wainwright increased their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho lifted their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. BMO Capital Markets boosted their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Wedbush reissued an “outperform” rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

NBIX traded up $0.88 during mid-day trading on Thursday, hitting $140.71. 616,567 shares of the stock were exchanged, compared to its average volume of 795,508. The firm’s fifty day moving average is $137.37 and its two-hundred day moving average is $128.78. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The company has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same quarter last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.79 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at approximately $5,683,637.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock valued at $25,039,887 in the last ninety days. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the business. Mediolanum International Funds Ltd acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth $1,351,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Neurocrine Biosciences by 33.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock worth $681,000 after buying an additional 1,235 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Neurocrine Biosciences in the first quarter valued at about $891,000. Daiwa Securities Group Inc. increased its holdings in Neurocrine Biosciences by 32.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock valued at $1,185,000 after buying an additional 2,109 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $99,000. 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.