Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $140.00 at Wells Fargo & Company

Neurocrine Biosciences (NASDAQ:NBIXFree Report) had its target price hoisted by Wells Fargo & Company from $127.00 to $140.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently commented on NBIX. Piper Sandler boosted their target price on Neurocrine Biosciences from $95.00 to $100.00 and gave the stock a neutral rating in a research note on Wednesday, November 1st. Barclays boosted their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Tuesday, January 23rd. The Goldman Sachs Group boosted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Raymond James upped their price objective on Neurocrine Biosciences from $135.00 to $145.00 and gave the stock an outperform rating in a research report on Wednesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, December 12th. They set a buy rating and a $136.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $136.69.

Read Our Latest Report on Neurocrine Biosciences

Neurocrine Biosciences Trading Down 1.6 %

NBIX stock opened at $132.30 on Thursday. The company has a market capitalization of $13.00 billion, a PE ratio of 54.67, a P/E/G ratio of 0.82 and a beta of 0.25. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $143.35. The business’s fifty day moving average price is $131.30 and its 200 day moving average price is $117.40.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last released its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same period in the previous year, the firm posted $0.88 EPS. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts predict that Neurocrine Biosciences will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 105,835 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $132.44, for a total transaction of $14,016,787.40. Following the completion of the sale, the chief executive officer now directly owns 499,754 shares of the company’s stock, valued at approximately $66,187,419.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,919 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $112.27, for a total transaction of $1,225,876.13. Following the completion of the sale, the insider now directly owns 35,882 shares of the company’s stock, valued at approximately $4,028,472.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Charles Gorman sold 105,835 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $132.44, for a total value of $14,016,787.40. Following the sale, the chief executive officer now directly owns 499,754 shares of the company’s stock, valued at $66,187,419.76. The disclosure for this sale can be found here. Insiders sold a total of 279,989 shares of company stock valued at $36,339,235 in the last ninety days. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently modified their holdings of NBIX. Norges Bank purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $111,786,000. BlackRock Inc. raised its stake in shares of Neurocrine Biosciences by 6.6% during the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock worth $1,363,094,000 after buying an additional 838,997 shares in the last quarter. Braidwell LP purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $77,615,000. Woodline Partners LP raised its stake in shares of Neurocrine Biosciences by 189.0% during the 2nd quarter. Woodline Partners LP now owns 1,152,189 shares of the company’s stock worth $108,651,000 after buying an additional 753,495 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $45,384,000. 93.54% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

(Get Free Report)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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