Jefferies Financial Group Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $189.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by Jefferies Financial Group from $177.00 to $189.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 29.88% from the stock’s current price.

A number of other brokerages also recently issued reports on NBIX. BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Barclays increased their price target on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. UBS Group increased their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Evercore ISI initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 price target on the stock. Finally, HC Wainwright raised their target price on shares of Neurocrine Biosciences from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.32.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX traded up $0.51 during trading on Monday, hitting $145.52. The stock had a trading volume of 201,755 shares, compared to its average volume of 814,983. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98. The company has a market capitalization of $14.64 billion, a PE ratio of 40.09 and a beta of 0.37. The firm has a fifty day moving average of $141.96 and a two-hundred day moving average of $138.93.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. Neurocrine Biosciences’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. On average, equities analysts expect that Neurocrine Biosciences will post 4.22 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the sale, the insider now directly owns 6,607 shares in the company, valued at $975,853.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary A. Lyons sold 930 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares of the company’s stock, valued at $17,860,621.41. The disclosure for this sale can be found here. Insiders have sold 111,798 shares of company stock valued at $16,014,496 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $35,731,000. abrdn plc grew its stake in Neurocrine Biosciences by 2,503.0% in the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Neurocrine Biosciences by 18.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after purchasing an additional 18,070 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Neurocrine Biosciences by 3.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after purchasing an additional 8,630 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in Neurocrine Biosciences by 2,192.0% in the fourth quarter. National Bank of Canada FI now owns 22,966 shares of the company’s stock valued at $3,025,000 after purchasing an additional 21,964 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

About Neurocrine Biosciences

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.