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

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by JPMorgan Chase & Co. from $177.00 to $185.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim reaffirmed a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $184.15.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $152.25 on Friday. Neurocrine Biosciences has a fifty-two week low of $115.66 and a fifty-two week high of $160.18. The company has a 50 day simple moving average of $131.12 and a two-hundred day simple moving average of $137.85. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.25 and a beta of 0.34.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its 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 21.55% and a return on equity of 19.79%. The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same period in the prior year, the business posted $1.69 EPS. Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts forecast that Neurocrine Biosciences will post 6.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the period. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 18.0% in the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after purchasing an additional 498,058 shares during the period. Geode Capital Management LLC grew its position in Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after purchasing an additional 34,457 shares during the period. Los Angeles Capital Management LLC grew its position in Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares during the period. Finally, Northern Trust Corp grew its position in Neurocrine Biosciences by 31.9% in the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock worth $173,201,000 after purchasing an additional 295,470 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences News Roundup

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

Neurocrine Biosciences Company Profile

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.