Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $201.50 Average Price Target from Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Free Report) have been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $200.8636.

Several research analysts have recently commented on NBIX shares. Wells Fargo & Company increased their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Citigroup lifted their target price on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wedbush boosted their target price on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Cantor Fitzgerald upped their price target on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target on the stock.

Read Our Latest Research Report on Neurocrine Biosciences

Insider Activity at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the sale, the insider directly owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This represents a 62.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 131,524 shares of company stock valued at $21,668,924. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in NBIX. Bank of America Corp DE raised its stake in shares of Neurocrine Biosciences by 10.6% in the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock valued at $76,913,000 after purchasing an additional 55,723 shares in the last quarter. Ruffer LLP acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $2,479,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $1,866,000. Wesbanco Bank Inc. grew its position in Neurocrine Biosciences by 88.9% in the fourth quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock valued at $2,411,000 after acquiring an additional 8,000 shares during the period. Finally, SEB Asset Management AB acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $10,483,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $155.54 on Thursday. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 0.72 and a beta of 0.39. The stock has a 50-day simple moving average of $167.48 and a 200-day simple moving average of $148.73. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The firm had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm’s revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences will post 7.25 earnings per share for the current year.

About Neurocrine Biosciences

(Get Free Report)

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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