Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $160.00 at HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX) had its price target boosted by investment analysts at HC Wainwright from $150.00 to $160.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 13.71% from the company’s previous close.

NBIX has been the subject of a number of other research reports. StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Oppenheimer restated an “outperform” rating and set a $200.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Barclays raised their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Mizuho increased their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.88.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $0.88 on Thursday, hitting $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. The stock has a 50 day moving average of $137.37 and a 200 day moving average of $128.78. The firm has a market capitalization of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (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 firm had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same quarter last year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts expect that Neurocrine Biosciences will post 4.79 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the sale, the insider now directly owns 4,895 shares in the company, valued at approximately $662,831.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David W. Boyer sold 1,328 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the transaction, the insider now directly owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of NBIX. Asset Management One Co. Ltd. boosted its stake in Neurocrine Biosciences by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 38,662 shares of the company’s stock worth $4,349,000 after buying an additional 207 shares in the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 34.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 2,015 shares of the company’s stock valued at $227,000 after purchasing an additional 515 shares during the last quarter. Forsta AP Fonden purchased a new position in Neurocrine Biosciences in the 3rd quarter worth $2,048,000. New York State Teachers Retirement System lifted its stake in shares of Neurocrine Biosciences by 0.8% in the 3rd quarter. New York State Teachers Retirement System now owns 96,989 shares of the company’s stock valued at $10,911,000 after acquiring an additional 740 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at approximately $35,000. 92.59% of the stock is currently owned by 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.