JPMorgan Chase & Co. Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its price target upped by JPMorgan Chase & Co. from $177.00 to $185.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on NBIX. Morgan Stanley raised their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. Citigroup raised their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Wedbush raised their price objective on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $184.15.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $152.25 on Friday. Neurocrine Biosciences has a 1-year low of $115.66 and a 1-year high of $160.18. The stock has a market cap of $15.31 billion, a PE ratio of 23.46, a P/E/G ratio of 1.26 and a beta of 0.34. The stock’s fifty day moving average is $131.12 and its two-hundred day moving average is $137.85.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the prior year, the business earned $1.69 earnings per share. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences will post 6.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in NBIX. Royal Bank of Canada grew its holdings in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after buying an additional 2,747 shares during the period. Empowered Funds LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Trending Headlines about Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

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.