Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $160.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by Royal Bank Of Canada from $156.00 to $160.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently issued reports on NBIX. Needham & Company LLC upped their price objective on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They set a “buy” rating and a $182.00 price objective for the company. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $168.47.

Neurocrine Biosciences Price Performance

NBIX stock opened at $143.21 on Wednesday. The company has a 50 day simple moving average of $140.85 and a 200 day simple moving average of $129.52. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 0.94 and a beta of 0.21. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.46. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the sale, the director directly owned 514,596 shares of the company’s stock, valued at $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in NBIX. Dodge & Cox increased its position in shares of Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after buying an additional 32,190 shares during the period. JPMorgan Chase & Co. increased its position in shares of Neurocrine Biosciences by 59.6% during the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after buying an additional 1,590,749 shares during the period. Wellington Management Group LLP increased its position in shares of Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Neurocrine Biosciences by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock worth $170,281,000 after buying an additional 49,088 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Neurocrine Biosciences by 40.5% during the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after buying an additional 435,385 shares during the period. 92.59% of the stock is owned by institutional investors.

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.