Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $158.00 by Analysts at Citigroup

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective upped by Citigroup from $150.00 to $158.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on NBIX. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the company an overweight rating in a report on Wednesday, July 10th. HC Wainwright upped their price target on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a report on Thursday, May 2nd. Barclays increased their target price on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the stock an overweight rating in a report on Friday. StockNews.com cut shares of Neurocrine Biosciences from a strong-buy rating to a buy rating in a report on Saturday, July 27th. Finally, Oppenheimer increased their target price on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $158.36.

Neurocrine Biosciences Trading Up 0.2 %

Shares of NBIX traded up $0.34 on Friday, reaching $148.04. 226,338 shares of the company’s stock were exchanged, compared to its average volume of 822,215. The stock has a market capitalization of $14.90 billion, a P/E ratio of 40.69 and a beta of 0.37. The business has a 50 day moving average price of $139.82 and a two-hundred day moving average price of $138.46. Neurocrine Biosciences has a 12 month low of $100.52 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period last year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. Equities research analysts predict that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insider Activity

In other news, CFO Matt Abernethy sold 15,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total value of $2,103,600.00. Following the transaction, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at $4,421,486.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matt Abernethy sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,421,486.72. The disclosure for this sale can be found here. Insiders have sold 93,068 shares of company stock valued at $12,906,761 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of the business. Candriam S.C.A. increased its position in Neurocrine Biosciences by 47.4% during the second quarter. Candriam S.C.A. now owns 465,467 shares of the company’s stock worth $64,078,000 after acquiring an additional 149,783 shares during the period. Arizona State Retirement System grew its stake in Neurocrine Biosciences by 1.1% during the second quarter. Arizona State Retirement System now owns 27,334 shares of the company’s stock worth $3,763,000 after buying an additional 310 shares in the last quarter. Victory Capital Management Inc. grew its stake in Neurocrine Biosciences by 1.2% during the second quarter. Victory Capital Management Inc. now owns 137,543 shares of the company’s stock worth $18,936,000 after buying an additional 1,676 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Neurocrine Biosciences during the second quarter worth about $284,000. Finally, Belpointe Asset Management LLC grew its stake in Neurocrine Biosciences by 91.5% during the second quarter. Belpointe Asset Management LLC now owns 8,113 shares of the company’s stock worth $1,117,000 after buying an additional 3,877 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Company Profile

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.