HC Wainwright Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $160.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by research analysts at HC Wainwright from $150.00 to $160.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 13.71% from the stock’s current price.

NBIX has been the topic of a number of other reports. The Goldman Sachs Group lifted their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday. Mizuho increased their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Wedbush reiterated an “outperform” rating and set a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Finally, Citigroup cut their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $0.88 during trading hours on Thursday, reaching $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. The firm’s 50 day moving average is $137.37 and its 200-day moving average is $128.78.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. Analysts forecast that Neurocrine Biosciences will post 4.79 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider David W. Boyer sold 1,328 shares of the 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 sale, the insider now owns 4,895 shares of the company’s stock, valued at $662,831.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares of the company’s stock, valued at $662,831.95. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock worth $25,039,887 in the last three months. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its position in shares of Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after acquiring an additional 74 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after purchasing an additional 78 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after buying an additional 84 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

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.