Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $170.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target upped by equities researchers at Morgan Stanley from $160.00 to $170.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 14.90% from the company’s previous close.

Several other brokerages have also weighed in on NBIX. HC Wainwright raised their price objective on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. BMO Capital Markets raised their price objective on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Wedbush reaffirmed an “outperform” rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.96.

Neurocrine Biosciences Trading Up 1.0 %

NBIX traded up $1.46 on Friday, reaching $147.96. The company had a trading volume of 226,098 shares, compared to its average volume of 821,358. The company has a fifty day moving average of $137.87 and a 200-day moving average of $136.83. The company has a market capitalization of $14.89 billion, a P/E ratio of 40.81 and a beta of 0.37. Neurocrine Biosciences has a one year low of $94.16 and a one year high of $149.01.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The company had revenue of $515.30 million during the quarter, compared to the consensus estimate of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Research analysts predict that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction on 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 transaction, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction on Monday, May 6th. The shares were sold at an average price of $140.55, for a total value of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,055,108.85. The disclosure for this sale can be found here. Insiders have sold 98,697 shares of company stock worth $13,377,515 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. RFP Financial Group LLC raised its holdings in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Mather Group LLC. bought a new position in shares of Neurocrine Biosciences in the first quarter valued at about $26,000. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $31,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Neurocrine Biosciences in the first quarter valued at about $32,000. 92.59% of the stock is owned by institutional investors.

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.