Barclays Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $180.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective upped by Barclays from $169.00 to $180.00 in a research note released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on NBIX. Wedbush reissued an outperform rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. UBS Group increased their price target on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a buy rating in a report on Tuesday, May 28th. Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Evercore ISI started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They issued an outperform rating and a $175.00 target price on the stock. Finally, Robert W. Baird lifted their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an outperform rating in a research note on Friday. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of Moderate Buy and an average target price of $157.16.

Neurocrine Biosciences Trading Down 2.5 %

Shares of NASDAQ:NBIX traded down $3.87 during midday trading on Friday, reaching $149.27. 455,829 shares of the company were exchanged, compared to its average volume of 823,238. The stock has a market cap of $15.02 billion, a PE ratio of 42.19 and a beta of 0.37. The business’s fifty day moving average is $139.82 and its two-hundred day moving average is $138.46. Neurocrine Biosciences has a one year low of $100.52 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. During the same period last year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, sell-side analysts expect that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 15,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,421,486.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Julie Cooke sold 900 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,421,486.72. The disclosure for this sale can be found here. Insiders sold 80,436 shares of company stock valued at $10,970,780 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently bought and sold shares of the stock. RFP Financial Group LLC lifted its stake in shares of Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the period. Mather Group LLC. acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $26,000. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Neurocrine Biosciences in the second quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors 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.