Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) had its price target increased by research analysts at HC Wainwright from $192.00 to $215.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 62.29% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Wall Street Zen lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, February 16th. BMO Capital Markets decreased their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Finally, Zacks Research lowered shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.25.
Check Out Our Latest Stock Analysis on Neurocrine Biosciences
Neurocrine Biosciences Stock Performance
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the previous year, the business posted $1.69 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Institutional Investors Weigh In On Neurocrine Biosciences
A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Neurocrine Biosciences by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after buying an additional 468,405 shares during the last quarter. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 18.0% during the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the last quarter. Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after buying an additional 88,522 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Neurocrine Biosciences by 31.9% during the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after buying an additional 295,470 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
More Neurocrine Biosciences News
Here are the key news stories impacting Neurocrine Biosciences this week:
- Positive Sentiment: Acquisition expands Neurocrine’s commercial footprint by adding VYKAT XR (first/only FDA treatment for hyperphagia in Prader?Willi Syndrome) and creates a three?product commercial portfolio alongside INGREZZA® and CRENESSITY®. This supports long?term revenue diversification. Neurocrine to Acquire Soleno Therapeutics, Expanding Its Endocrinology and Rare Disease Portfolio
- Positive Sentiment: Bank of America reiterated a Buy and raised its price target to $199, signaling bullish analyst conviction that the deal meaningfully increases upside despite a near?term pipeline lull. Neurocrine Biosciences: Vykat XR Acquisition Unlocks Diversified Growth and Upside Potential Despite Near-Term Pipeline Lull
- Positive Sentiment: Needham reaffirmed a Buy with a $185 target, reinforcing that some buy?side analysts view the acquisition as value?creating. Needham & Company Reaffirms Buy on Neurocrine
- Neutral Sentiment: Deal mechanics: Neurocrine will pay $53.00 per Soleno share in an all?cash transaction valued at about $2.9 billion; a conference call was held to discuss terms. These are execution/funding facts investors will monitor. Neurocrine to buy Soleno Therapeutics for $2.9 billion
- Neutral Sentiment: Market validation for the premium: Soleno shares jumped strongly on the deal, highlighting investor appetite for Soleno’s assets and the strategic rationale for Neurocrine. Soleno Therapeutics (SLNO) Soars 32% on $2.9-Billion Merger
- Negative Sentiment: Some analysts remain cautious: BMO kept a Hold and a $140 target, flagging long?term execution risks for Ingrezza and orphan market rollouts that could offset acquisition benefits. Balanced View on Neurocrine Biosciences: Favorable Soleno Acquisition Prospects Offset by Long-Term Ingrezza and Orphan Market Execution Risks
- Negative Sentiment: Short?term headwinds: Neurocrine’s stock initially dropped on the announcement (acquirer sell?off is common after M&A news) as investors digest the $2.9B cash outlay, integration risk and near?term pipeline cadence. This Pharma Stock Is Surging 40%. Neurocrine Is Buying It in $2.9 Billion Deal.
- Negative Sentiment: M&A call/transcript and analyst commentary highlight execution and integration questions investors should track (commercial roll?out for VYKAT XR, orphan market uptake, and funding). Neurocrine Biosciences, Inc. (NBIX) M&A Call Transcript
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.
Further Reading
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