Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $175.84 Consensus Target Price from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $175.05.

NBIX has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 16th. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Needham & Company LLC cut their target price on Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, February 12th.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares in the company, valued at $967,606.51. This represents a 16.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,966 shares of company stock worth $6,474,616 in the last ninety days. 4.80% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. increased its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. Eastern Bank acquired a new position in shares of Neurocrine Biosciences during the third quarter worth $27,000. Finally, DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.1%

Shares of NBIX stock opened at $131.15 on Thursday. The stock has a 50 day simple moving average of $136.38 and a 200 day simple moving average of $140.44. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $160.18. The stock has a market cap of $13.16 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 0.68 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). The company had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. Neurocrine Biosciences’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 earnings per share. Analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current year.

Neurocrine Biosciences Company Profile

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.