Barclays Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $169.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Barclays from $150.00 to $169.00 in a research note issued to investors on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on NBIX. The Goldman Sachs Group lifted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research note on Thursday, January 25th. Mizuho boosted their price objective on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Wedbush reiterated an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Finally, Oppenheimer upped their price target on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $0.88 during mid-day trading on Thursday, hitting $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $148.37. The company has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. The company’s 50 day moving average is $137.37 and its 200-day moving average is $128.88.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities research analysts predict that Neurocrine Biosciences will post 4.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the sale, the insider now owns 4,895 shares in the company, valued at approximately $662,831.95. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock valued at $25,039,887 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vestal Point Capital LP bought a new position in Neurocrine Biosciences during the fourth quarter valued at about $105,408,000. Los Angeles Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Neurocrine Biosciences by 120.6% during the third quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after purchasing an additional 319,564 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Neurocrine Biosciences by 73.0% in the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock valued at $73,045,000 after purchasing an additional 273,952 shares in the last quarter. Finally, Norges Bank bought a new position in Neurocrine Biosciences in the fourth quarter worth $35,731,000. Institutional investors and hedge funds 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.