Neurocrine Biosciences (NASDAQ:NBIX) Earns Buy Rating from HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $150.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 7.07% from the stock’s current price.

Several other equities research analysts also recently weighed in on NBIX. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Barclays raised their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 target price on shares of Neurocrine Biosciences in a report on Wednesday. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a report on Wednesday. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.38.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $140.09 on Wednesday. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The business’s fifty day moving average is $136.34 and its 200-day moving average is $127.54. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 57.89 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same quarter last year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, research analysts forecast that Neurocrine Biosciences will post 4.84 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the completion of the sale, the insider now directly owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the sale, the insider now directly owns 20,832 shares of the company’s stock, valued at $2,932,937.28. The disclosure for this sale can be found here. Insiders sold 186,994 shares of company stock valued at $25,806,409 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after purchasing an additional 150,485 shares in the last quarter. DSM Capital Partners LLC lifted its stake in Neurocrine Biosciences by 15.4% in the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after purchasing an additional 163,747 shares during the last quarter. Brown Advisory Inc. lifted its stake in Neurocrine Biosciences by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after purchasing an additional 23,831 shares during the last quarter. Braidwell LP lifted its stake in Neurocrine Biosciences by 3.7% in the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after purchasing an additional 34,662 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Neurocrine Biosciences by 66.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after purchasing an additional 364,986 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

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.