JPMorgan Chase & Co. Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its target price increased by JPMorgan Chase & Co. from $183.00 to $184.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently commented on NBIX. Wedbush decreased their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Guggenheim decreased their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Canaccord Genuity Group dropped their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Barclays boosted their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, December 23rd. Finally, William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $165.38.

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Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded down $0.84 during mid-day trading on Wednesday, hitting $113.16. The company had a trading volume of 800,768 shares, compared to its average volume of 981,987. The company has a market capitalization of $11.28 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences has a one year low of $105.18 and a one year high of $157.98. The firm has a fifty day moving average price of $124.17 and a 200 day moving average price of $124.94.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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 expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company's stock, valued at $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock worth $33,906,594 over the last three months. 4.30% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently bought and sold shares of the company. Caprock Group LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at $236,000. Charles Schwab Investment Management Inc. lifted its position in Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after purchasing an additional 15,266 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth about $3,236,000. Oakworth Capital Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $379,000. Finally, Synergy Asset Management LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $996,000. Hedge funds and other 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.