Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $158.68 Consensus Target Price from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $161.32.

A number of equities analysts recently issued reports on NBIX shares. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 1st. Citigroup lifted their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Evercore ISI assumed coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $149.59 on Friday. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98. The company has a market cap of $15.05 billion, a P/E ratio of 41.21 and a beta of 0.37. The stock’s fifty day moving average price is $142.56 and its 200-day moving average price is $139.03.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same quarter in the prior year, the company posted $0.95 EPS. Neurocrine Biosciences’s revenue was up 30.4% on a year-over-year basis. On average, sell-side analysts anticipate that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the sale, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,798 shares of company stock worth $16,014,496. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIX. Mather Group LLC. purchased a new position in Neurocrine Biosciences during the first quarter worth approximately $26,000. RFP Financial Group LLC lifted its position in shares of Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth $28,000. Finally, Innealta Capital LLC acquired a new position in Neurocrine Biosciences during the second quarter worth $30,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.