Neurocrine Biosciences (NASDAQ:NBIX) Given New $176.00 Price Target at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $177.00 to $176.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 36.96% from the company’s current price.

Several other analysts also recently issued reports on NBIX. BMO Capital Markets reduced their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Truist Financial dropped their price target on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen boosted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Royal Bank Of Canada cut their price target on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Finally, Citigroup boosted their price objective on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.84.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $4.38 on Tuesday, reaching $128.50. The company had a trading volume of 834,155 shares, compared to its average volume of 1,241,008. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $160.18. The company’s fifty day moving average is $139.52 and its 200-day moving average is $140.44. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The company had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 earnings per share. On average, research analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director directly owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 61,966 shares of company stock valued at $8,625,166. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NBIX. USA Financial Formulas acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $25,000. Golden State Wealth Management LLC raised its position in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at about $27,000. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. lifted its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.