Neurocrine Biosciences (NASDAQ:NBIX) Given New $184.00 Price Target at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its target price hoisted by JPMorgan Chase & Co. from $183.00 to $184.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

NBIX has been the subject of a number of other reports. Guggenheim reduced 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 report on Monday, February 10th. Bank of America decreased their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $114.45 on Wednesday. Neurocrine Biosciences has a 1 year low of $105.18 and a 1 year high of $157.98. The stock has a market cap of $11.41 billion, a P/E ratio of 34.79, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50-day simple moving average of $125.33 and a 200-day simple moving average of $125.02.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results 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%. On average, equities research analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current year.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred 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 of the company’s stock, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,178 shares of company stock worth $33,906,594. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NBIX. California State Teachers Retirement System grew its stake in Neurocrine Biosciences by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 136,549 shares of the company’s stock valued at $18,639,000 after acquiring an additional 2,389 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Neurocrine Biosciences by 199.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,886 shares of the company’s stock valued at $2,305,000 after purchasing an additional 11,240 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Neurocrine Biosciences by 29.0% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 6,643 shares of the company’s stock valued at $907,000 after purchasing an additional 1,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $4,429,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $850,000. 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.