Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) PT at $165.38

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $165.38.

NBIX has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. HC Wainwright reiterated a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday, February 21st. Needham & Company LLC restated a "hold" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Finally, Bank of America lowered their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th.

Neurocrine Biosciences Price Performance

NBIX traded down $5.43 during trading on Monday, reaching $102.88. 1,756,645 shares of the stock traded hands, compared to its average volume of 992,999. Neurocrine Biosciences has a fifty-two week low of $102.55 and a fifty-two week high of $157.98. The stock's 50-day simple moving average is $121.07 and its two-hundred day simple moving average is $124.51. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Research analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,740 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the transaction, the insider now directly owns 18,202 shares of the company's stock, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the sale, the insider now directly owns 3,442 shares of the company's stock, valued at $513,856.18. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock worth $33,869,030 over the last three months. Company insiders own 4.30% of the company's stock.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at about $25,000. Huntington National Bank raised its position in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares during the period. GeoWealth Management LLC boosted its holdings in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares during the period. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Company Profile

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.