Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $175.10 Average PT from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $175.10.

Several research firms recently commented on NBIX. BMO Capital Markets decreased 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 report on Thursday, February 12th. Needham & Company LLC dropped their price objective on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. HC Wainwright cut their target price on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada decreased their target price on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $175.00 price target (up from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $130.71 on Monday. The business’s fifty day moving average price is $132.62 and its 200 day moving average price is $140.09. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The business had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the previous year, the business posted $1.69 earnings per share. The company’s revenue was up 28.3% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after acquiring an additional 5,577 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after acquiring an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new stake in Neurocrine Biosciences in the first quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.