Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $106.82

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned a consensus recommendation of “Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $106.82.

Several brokerages have recently weighed in on NBIX. Guggenheim began coverage on Neurocrine Biosciences in a report on Tuesday, June 4th. They issued a “neutral” rating and a $88.00 price objective for the company. Royal Bank of Canada assumed coverage on Neurocrine Biosciences in a report on Wednesday, August 7th. They issued an “outperform” rating and a $118.00 price objective for the company. BidaskClub raised Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Zacks Investment Research raised Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and upped their target price for the company from $100.00 to $106.00 in a report on Monday, April 22nd.

In related news, insider Haig P. Bozigian sold 1,300 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.03, for a total transaction of $104,039.00. Following the transaction, the insider now directly owns 143,276 shares of the company’s stock, valued at $11,466,378.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Haig P. Bozigian sold 17,486 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $80.03, for a total value of $1,399,404.58. Following the transaction, the insider now directly owns 159,462 shares in the company, valued at $12,761,743.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,683 shares of company stock valued at $21,039,998. 4.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Emory University raised its position in Neurocrine Biosciences by 11.9% during the first quarter. Emory University now owns 28,287 shares of the company’s stock valued at $2,492,000 after buying an additional 2,998 shares during the period. Steinberg Global Asset Management raised its position in Neurocrine Biosciences by 2.7% during the first quarter. Steinberg Global Asset Management now owns 15,923 shares of the company’s stock valued at $1,403,000 after buying an additional 412 shares during the period. NEXT Financial Group Inc raised its position in Neurocrine Biosciences by 89.8% during the second quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after buying an additional 265 shares during the period. Exane Derivatives increased its position in Neurocrine Biosciences by 901.4% in the 1st quarter. Exane Derivatives now owns 4,857 shares of the company’s stock worth $428,000 after purchasing an additional 4,372 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its position in Neurocrine Biosciences by 9,375.0% in the 1st quarter. Enterprise Financial Services Corp now owns 6,064 shares of the company’s stock worth $535,000 after purchasing an additional 6,000 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Neurocrine Biosciences stock traded up $2.36 during trading on Tuesday, hitting $97.24. The stock had a trading volume of 391,600 shares, compared to its average volume of 790,919. The company has a debt-to-equity ratio of 0.96, a current ratio of 7.44 and a quick ratio of 7.32. The firm has a market cap of $8.69 billion, a P/E ratio of 442.00, a PEG ratio of 4.94 and a beta of 1.32. The business has a fifty day moving average of $89.35 and a two-hundred day moving average of $84.21. Neurocrine Biosciences has a fifty-two week low of $64.72 and a fifty-two week high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.13. The business had revenue of $183.58 million during the quarter, compared to analyst estimates of $161.79 million. Neurocrine Biosciences had a return on equity of 0.46% and a net margin of 2.98%. The company’s revenue was up 89.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. As a group, research analysts forecast that Neurocrine Biosciences will post 0.8 earnings per share for the current year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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