Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $216.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by Oppenheimer from $200.00 to $216.00 in a research note released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently issued reports on NBIX. Barclays lifted their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Mizuho raised their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a report on Thursday, February 8th. The Goldman Sachs Group upped their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, HC Wainwright raised their target price on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

Shares of NASDAQ NBIX opened at $140.71 on Thursday. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37. The business has a 50-day moving average price of $137.37 and a two-hundred day moving average price of $129.00. The firm has a market capitalization of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. Research analysts anticipate that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction on Monday, April 15th. The shares were 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 $5,438,154.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the transaction, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,547 shares of company stock worth $25,039,887. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vestal Point Capital LP bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $105,408,000. Los Angeles Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Neurocrine Biosciences by 120.6% in the third quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock worth $65,761,000 after purchasing an additional 319,564 shares during the period. Westfield Capital Management Co. LP raised its stake in Neurocrine Biosciences by 73.0% in the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock valued at $73,045,000 after purchasing an additional 273,952 shares in the last quarter. Finally, Norges Bank bought a new stake in Neurocrine Biosciences during the fourth quarter worth about $35,731,000. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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.