Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $138.00 at BMO Capital Markets

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by stock analysts at BMO Capital Markets from $129.00 to $138.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential downside of 1.93% from the stock’s previous close.

A number of other analysts also recently issued reports on NBIX. Mizuho raised their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Barclays lifted their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday. Finally, Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Price Performance

NBIX stock traded up $0.88 during trading on Thursday, hitting $140.71. 616,567 shares of the company traded hands, compared to its average volume of 795,508. The company has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The stock’s 50-day simple moving average is $137.37 and its 200 day simple moving average is $128.78.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS. Research analysts expect that Neurocrine Biosciences will post 4.79 earnings per share for the current year.

Insider Activity

In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the transaction, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $135.41, for a total transaction of $179,824.48. Following the sale, the insider now owns 4,895 shares in the company, valued at $662,831.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of NBIX. First Horizon Advisors Inc. boosted its stake in Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after purchasing an additional 74 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after buying an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after buying an additional 83 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after acquiring an additional 84 shares during the period. 92.59% of the stock is currently owned by hedge funds and other 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.