Neurocrine Biosciences (NASDAQ:NBIX) Given New $158.00 Price Target at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIXFree Report) had its price objective raised by JPMorgan Chase & Co. from $148.00 to $158.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also weighed in on NBIX. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, December 12th. They set a buy rating and a $136.00 price objective on the stock. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Mizuho increased their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Citigroup dropped their target price on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research report on Thursday, February 8th. Finally, Canaccord Genuity Group reissued a buy rating and set a $150.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, December 7th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $137.92.

Read Our Latest Stock Analysis on NBIX

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $141.43 on Wednesday. The firm has a market cap of $14.07 billion, a P/E ratio of 58.44, a PEG ratio of 0.90 and a beta of 0.25. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The firm’s 50-day simple moving average is $136.90 and its 200-day simple moving average is $123.65.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. Analysts expect that Neurocrine Biosciences will post 4.88 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 11,044 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $131.47, for a total transaction of $1,451,954.68. Following the transaction, the director now directly owns 51,741 shares in the company, valued at $6,802,389.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kevin Charles Gorman sold 105,835 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 499,754 shares in the company, valued at $66,187,419.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Rastetter sold 11,044 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $131.47, for a total value of $1,451,954.68. Following the transaction, the director now owns 51,741 shares in the company, valued at $6,802,389.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 364,055 shares of company stock valued at $49,165,773. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $9,355,000. Vanguard Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after acquiring an additional 150,485 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 70.1% during the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock valued at $35,680,000 after acquiring an additional 111,552 shares during the period. Aurora Investment Counsel boosted its holdings in shares of Neurocrine Biosciences by 2.6% during the fourth quarter. Aurora Investment Counsel now owns 13,726 shares of the company’s stock valued at $1,809,000 after acquiring an additional 342 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Neurocrine Biosciences by 13.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 44,960 shares of the company’s stock worth $5,924,000 after purchasing an additional 5,449 shares during the period. 93.54% of the stock is currently owned by institutional investors.

About Neurocrine Biosciences

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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.

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