Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $173.00 by Analysts at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $169.00 to $173.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 19.69% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Barclays boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, HC Wainwright upped their price target on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.58.

Read Our Latest Stock Analysis on NBIX

Neurocrine Biosciences Stock Performance

Shares of NBIX traded up $1.24 during mid-day trading on Wednesday, reaching $144.54. The stock had a trading volume of 165,807 shares, compared to its average volume of 821,163. Neurocrine Biosciences has a 12 month low of $94.16 and a 12 month high of $148.37. The business has a fifty day moving average of $137.54 and a 200 day moving average of $136.58. The firm has a market cap of $14.55 billion, a price-to-earnings ratio of 39.71 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The business had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. On average, research analysts forecast that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the sale, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Eric Benevich sold 19,818 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,697 shares of company stock valued at $13,377,515. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Walleye Capital LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter worth approximately $3,455,000. Headinvest LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. raised its position in Neurocrine Biosciences by 34.3% during the 3rd 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. Symmetry Partners LLC purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $246,000. Finally, FCF Advisors LLC purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $1,157,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

(Get Free Report)

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.

Read More

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

Receive News & Ratings for Neurocrine Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurocrine Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.