Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $161.14 Average Target Price from Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-two ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $160.90.

A number of research analysts have recently weighed in on NBIX shares. Morgan Stanley restated 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. Guggenheim reduced their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Wedbush cut their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Finally, UBS Group dropped their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, April 4th.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $1.88 during trading hours on Friday, hitting $108.34. The company's stock had a trading volume of 202,588 shares, compared to its average volume of 1,064,798. The company has a market capitalization of $10.72 billion, a PE ratio of 32.95, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences has a 52-week low of $84.23 and a 52-week high of $157.98. The business's 50-day moving average is $107.00 and its two-hundred day moving average is $122.16.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 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%. As a group, analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a share buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 623 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kyle Gano sold 1,541 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $235,572.67. Following the completion of the sale, the chief executive officer now directly owns 136,778 shares of the company's stock, valued at approximately $20,909,252.86. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,801 shares of company stock valued at $2,834,677 over the last three months. 4.30% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dodge & Cox lifted its position in shares of Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $115,193,000. Wellington Management Group LLP lifted its holdings in shares of Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after purchasing an additional 711,970 shares during the period. Finally, Orbimed Advisors LLC increased its stake in Neurocrine Biosciences by 210.4% in the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after purchasing an additional 635,900 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.