Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $150.00 at Citigroup

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Citigroup from $140.00 to $150.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on the stock. Guggenheim increased their target price on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a buy rating in a report on Thursday. HC Wainwright increased their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a report on Thursday. Mizuho lifted their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Barclays upped their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an overweight rating in a report on Thursday. Finally, Oppenheimer upped their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $1.00 during trading on Friday, hitting $141.71. 495,129 shares of the company’s stock traded hands, compared to its average volume of 849,714. The stock has a fifty day moving average of $137.37 and a two-hundred day moving average of $129.00. The firm has a market cap of $14.26 billion, a P/E ratio of 39.38 and a beta of 0.28. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $148.37.

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

Insider Activity at Neurocrine Biosciences

In related news, insider Eric Benevich sold 75,000 shares of the stock in a transaction 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 sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Eric Benevich sold 75,000 shares of the stock in a transaction 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 sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David W. Boyer sold 456 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now directly owns 4,894 shares in the company, valued at $694,752.24. The disclosure for this sale can be found here. Insiders have sold 181,547 shares of company stock valued at $25,039,887 over the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mather Group LLC. bought a new position in Neurocrine Biosciences in the first quarter valued at about $26,000. Headinvest LLC bought a new position in Neurocrine Biosciences in the third quarter valued at about $28,000. Lindbrook Capital LLC raised its stake in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $31,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $33,000. 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.