JPMorgan Chase & Co. Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

by · The Markets Daily

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $176.00 to $177.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 37.86% from the company’s current price.

A number of other research firms also recently issued reports on NBIX. BMO Capital Markets dropped their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Wedbush upped their price target on Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Stifel Nicolaus lifted their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Wolfe Research began coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Mizuho upped their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.10.

Check Out Our Latest Research Report on NBIX

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded down $1.15 during trading hours on Thursday, reaching $128.39. The stock had a trading volume of 317,141 shares, compared to its average volume of 1,172,223. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $160.18. The firm’s 50 day moving average is $133.57 and its 200-day moving average is $140.36. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 0.68 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period last year, the company earned $1.69 EPS. Analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares of the company’s stock, valued at approximately $967,606.51. This represents a 16.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 42,590 shares of company stock valued at $5,775,987. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of NBIX. AlTi Global Inc. raised its position in Neurocrine Biosciences by 1.0% in the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after purchasing an additional 70 shares in the last quarter. Huntington National Bank raised its holdings in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Neurocrine Biosciences by 0.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after buying an additional 77 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after buying an additional 78 shares during the period. Finally, Motley Fool Asset Management LLC boosted its stake in Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

(Get Free Report)

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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