BMO Capital Markets Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $138.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by BMO Capital Markets from $129.00 to $138.00 in a research note released on Thursday morning, Benzinga reports. They currently have a market perform rating on the stock.

NBIX has been the subject of a number of other research reports. Wedbush reiterated an outperform rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Barclays raised their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Tuesday, January 23rd. Mizuho lifted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Needham & Company LLC reaffirmed a hold rating on shares of Neurocrine Biosciences in a research report on Wednesday. Finally, Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and raised their price target for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $0.88 during midday trading on Thursday, hitting $140.71. 616,567 shares of the company were exchanged, 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 firm’s 50 day moving average price is $137.37 and its two-hundred day moving average price is $128.88. The firm has a market capitalization of $14.16 billion, a P/E 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 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 analysts’ expectations of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company’s quarterly revenue 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. Analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the transaction, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences stock in a transaction on Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently modified their holdings of the business. FCF Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $1,157,000. abrdn plc lifted its position in Neurocrine Biosciences by 2,503.0% during the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in Neurocrine Biosciences in the fourth quarter worth approximately $1,245,000. HealthInvest Partners AB bought a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $1,256,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.