Royal Bank Of Canada Forecasts Strong Price Appreciation for Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by Royal Bank Of Canada from $160.00 to $180.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 13.05% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Needham & Company LLC upped their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler lifted their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Citigroup upped their price target on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.00.

Neurocrine Biosciences Trading Up 2.4%

Neurocrine Biosciences stock traded up $3.71 during mid-day trading on Monday, hitting $159.22. The company had a trading volume of 111,956 shares, compared to its average volume of 1,149,735. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $159.00. The company has a market capitalization of $15.88 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27. The stock’s 50 day moving average price is $143.72 and its two-hundred day moving average price is $136.15.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.Neurocrine Biosciences’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. Equities research analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the transaction, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the transaction, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. This trade represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,300 shares of company stock worth $4,925,901 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AlTi Global Inc. lifted its position in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after buying an additional 70 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after acquiring an additional 77 shares during the period. Diametric Capital LP lifted its holdings in Neurocrine Biosciences by 2.6% during the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock valued at $408,000 after purchasing an additional 81 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Neurocrine Biosciences by 2.4% during the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock valued at $506,000 after purchasing an additional 84 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Neurocrine Biosciences by 4.2% in the second quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock worth $273,000 after purchasing an additional 88 shares during the period. Institutional investors own 92.59% of the company’s stock.

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.