Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) had its target price boosted by stock analysts at Citigroup from $249.00 to $253.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 59.71% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings raised shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target for the company. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler raised their price objective on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.05.
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Neurocrine Biosciences Stock Performance
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 7.25 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the sale, the director owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the transaction, the director owned 15,860 shares in the company, valued at $2,621,975.20. This trade represents a 61.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 65,188 shares of company stock worth $11,251,633. 4.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in NBIX. NewEdge Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 0.5% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after acquiring an additional 68 shares during the period. Huntington National Bank boosted its stake in Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares during the period. Motley Fool Asset Management LLC boosted its stake in Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the period. Main Management ETF Advisors LLC increased its holdings in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after purchasing an additional 80 shares in the last quarter. Finally, Westpac Banking Corp increased its holdings in Neurocrine Biosciences by 6.0% during the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
Neurocrine Biosciences Company Profile
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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