Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $215.00
by Scott Moore · The Cerbat GemNeurocrine Biosciences (NASDAQ:NBIX – Free Report) had its price objective boosted by HC Wainwright from $192.00 to $215.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.
A number of other brokerages have also recently weighed in on NBIX. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 16th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $176.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Zacks Research cut shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, UBS Group reduced their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.70.
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Neurocrine Biosciences Price Performance
Shares of NBIX opened at $131.64 on Tuesday. Neurocrine Biosciences has a 1-year low of $87.70 and a 1-year high of $160.18. The stock has a market cap of $13.21 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The firm has a fifty day moving average price of $131.31 and a 200 day moving average price of $138.81.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. During the same period last year, the firm earned $1.69 earnings per share. Neurocrine Biosciences’s revenue was up 28.3% on a year-over-year basis. As a group, equities analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.
Insider Buying and Selling
In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of NBIX. USA Financial Formulas acquired a new position in Neurocrine Biosciences in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Eastern Bank acquired a new position in Neurocrine Biosciences in the third quarter valued at $27,000. Finally, DJE Kapital AG acquired a new position in Neurocrine Biosciences in the fourth quarter valued at $28,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.
About Neurocrine Biosciences
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.