Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $166.90

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $165.24.

Several brokerages recently commented on NBIX. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. Guggenheim dropped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and set a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday. Finally, 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 report on Friday, February 7th.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $110.87 on Thursday. The firm’s 50 day moving average price is $131.95 and its two-hundred day moving average price is $126.73. Neurocrine Biosciences has a 1 year low of $110.25 and a 1 year high of $157.98. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter worth about $25,000. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. GeoWealth Management LLC boosted its position in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.