Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $191.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target upped by Morgan Stanley from $185.00 to $191.00 in a report issued on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

NBIX has been the topic of several other reports. Guggenheim reaffirmed a “buy” rating and set a $175.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Truist Financial decreased their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wedbush raised their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.15.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $152.25 on Wednesday. Neurocrine Biosciences has a 12-month low of $115.66 and a 12-month high of $160.18. The stock has a market capitalization of $15.31 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.26 and a beta of 0.34. The firm’s 50-day moving average is $131.12 and its two-hundred day moving average is $137.85.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same period in the prior year, the business earned $1.69 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, analysts forecast that Neurocrine Biosciences will post 6.57 EPS for the current year.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds have recently modified their holdings of the stock. USA Financial Formulas acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its position in shares of 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 during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank acquired a new stake in shares of Neurocrine Biosciences in the third quarter worth approximately $27,000. Finally, DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $28,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Neurocrine Biosciences

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

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.