Canaccord Genuity Group Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $164.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Canaccord Genuity Group from $154.00 to $164.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on NBIX. Barclays increased their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an overweight rating in a research report on Thursday. StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Wedbush restated an outperform rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Oppenheimer upped their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $0.88 on Thursday, reaching $140.71. The company’s 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 business’s 50-day moving average price is $137.37 and its two-hundred day moving average price is $128.88. The firm has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same period in the previous year, the firm earned $0.88 EPS. Neurocrine Biosciences’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now directly owns 40,778 shares in the company, valued at approximately $5,683,637.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David W. Boyer sold 456 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the sale, the insider now owns 4,894 shares in the company, valued at approximately $694,752.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Benevich sold 75,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The disclosure for this sale can be found here. Insiders have sold 181,547 shares of company stock worth $25,039,887 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently made changes to their positions in NBIX. Vestal Point Capital LP bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $105,408,000. Los Angeles Capital Management LLC grew its position 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 holdings 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 worth $65,761,000 after purchasing an additional 319,564 shares during the period. Westfield Capital Management Co. LP raised its position 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 buying an additional 273,952 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $35,731,000. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.