Neurocrine Biosciences (NASDAQ:NBIX) Lifted to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have $170.00 price target on the stock, up from their previous price target of $140.00.

A number of other equities research analysts have also recently weighed in on the company. Mizuho upped their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Citigroup lowered their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Wedbush reaffirmed an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Finally, Barclays upped their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $142.38.

Neurocrine Biosciences Price Performance

NBIX opened at $135.99 on Wednesday. The stock has a market cap of $13.53 billion, a P/E ratio of 56.19 and a beta of 0.25. The stock’s 50 day simple moving average is $136.63 and its 200 day simple moving average is $127.85. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Research analysts expect that Neurocrine Biosciences will post 4.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Kevin Charles Gorman sold 2,707 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now directly owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Benevich sold 75,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,683,637.64. The disclosure for this sale can be found here. Insiders have sold a total of 186,994 shares of company stock valued at $25,806,409 in the last quarter. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of Neurocrine Biosciences in the 1st quarter worth $26,000. Headinvest LLC acquired a new stake in Neurocrine Biosciences in the 3rd quarter valued at $28,000. Lindbrook Capital LLC increased its holdings in Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at $31,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at $33,000. 92.59% of the stock is owned by hedge funds and other 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.