Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $185.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective upped by Morgan Stanley from $170.00 to $185.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on NBIX. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $166.85.

Neurocrine Biosciences Stock Down 0.5 %

NBIX opened at $150.51 on Tuesday. The stock’s 50 day moving average price is $138.41 and its two-hundred day moving average price is $131.64. The firm has a market capitalization of $15.24 billion, a P/E ratio of 40.35 and a beta of 0.33. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. As a group, analysts anticipate that Neurocrine Biosciences will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock worth $32,718,279 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the period. Lindbrook Capital LLC increased its holdings in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Neurocrine Biosciences in the fourth quarter valued at about $61,000. 92.59% of the stock is owned by institutional investors.

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.