Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $216.00 by Analysts at Oppenheimer

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by Oppenheimer from $200.00 to $216.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their price target for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a research report on Thursday. Citigroup reduced their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research note on Thursday, February 8th. The Goldman Sachs Group lifted their price target on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, StockNews.com upgraded shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $147.88.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.88 during trading hours on Thursday, reaching $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The business’s 50 day moving average price is $137.37 and its 200-day moving average price is $128.88. The firm 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 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. The firm had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. On average, analysts expect that Neurocrine Biosciences will post 4.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider David W. Boyer sold 456 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares in the company, valued at approximately $694,752.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider David W. Boyer sold 456 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the sale, the insider now directly owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock valued at $25,039,887 over the last quarter. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently bought and sold shares of the stock. Mediolanum International Funds Ltd purchased a new stake in shares of Neurocrine Biosciences during the first quarter worth approximately $1,351,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Neurocrine Biosciences by 33.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock valued at $681,000 after purchasing an additional 1,235 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at $891,000. Daiwa Securities Group Inc. lifted its position in shares of Neurocrine Biosciences by 32.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock worth $1,185,000 after purchasing an additional 2,109 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $99,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.