Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $164.00 at Canaccord Genuity Group

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by research analysts at Canaccord Genuity Group from $154.00 to $164.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 16.55% from the stock’s current price.

Several other research firms have also recently commented on NBIX. The Goldman Sachs Group lifted their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim raised their target price on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lowered their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

Shares of NASDAQ:NBIX traded up $0.88 during mid-day trading on Thursday, hitting $140.71. 616,567 shares of the company traded hands, compared to its average volume of 795,508. The stock has a 50-day moving average price of $137.37 and a two-hundred day moving average price of $128.78. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $148.37. The stock has a market cap of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. As a group, analysts expect that Neurocrine Biosciences will post 4.79 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of the firm’s 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 directly owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of the firm’s 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 sale, the insider now owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,547 shares of company stock valued at $25,039,887. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mather Group LLC. bought a new position in Neurocrine Biosciences in the first quarter valued at $26,000. Headinvest LLC bought a new position in shares of Neurocrine Biosciences during the 3rd quarter valued at about $28,000. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $31,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $33,000. Hedge funds and other 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.