Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $163.21 Average Price Target from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given an average recommendation of “Moderate Buy” by the twenty-four ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $164.52.

A number of brokerages recently weighed in on NBIX. Royal Bank of Canada cut their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Raymond James restated an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday. Robert W. Baird lifted their price objective on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th.

Neurocrine Biosciences Trading Up 2.7 %

NBIX stock opened at $115.49 on Monday. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The company has a market capitalization of $11.62 billion, a P/E ratio of 31.82 and a beta of 0.36. The firm has a 50 day simple moving average of $129.62 and a 200-day simple moving average of $135.74.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same period in the previous year, the business posted $0.95 EPS. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Julie Cooke sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,798 shares of company stock valued at $9,274,196 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. bought a new position in shares of Neurocrine Biosciences in the 1st quarter worth $26,000. RFP Financial Group LLC boosted its position in Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Neurocrine Biosciences during the 1st quarter valued at $32,000. 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.