Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $170.00 at Guggenheim

Neurocrine Biosciences (NASDAQ:NBIX) had its target price hoisted by Guggenheim from $164.00 to $170.00 in a research report report published on Thursday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other brokerages also recently issued reports on NBIX. Barclays upped their target price on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an overweight rating in a research note on Thursday. Wedbush reissued an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. HC Wainwright boosted their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research report on Wednesday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $0.88 during midday trading on Thursday, hitting $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The stock has a market capitalization of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. The company has a 50 day moving average of $137.37 and a 200 day moving average of $128.78.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share 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 the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Equities research analysts forecast that Neurocrine Biosciences will post 4.79 EPS for the current year.

Insiders Place Their Bets

In related news, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the sale, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares in the company, valued at $662,831.95. The disclosure for this sale can be found here. Insiders have sold 181,547 shares of company stock worth $25,039,887 in the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in Neurocrine Biosciences in the first quarter worth about $26,000. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $28,000. Lindbrook Capital LLC raised its stake in shares of Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $31,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $33,000. 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.