Neurocrine Biosciences (NASDAQ:NBIX) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Wednesday morning, Benzinga reports. Wedbush currently has a $147.00 price objective on the stock.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Citigroup reduced their price objective on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research note on Thursday, February 8th. Barclays upped their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Finally, Mizuho upped their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $139.67.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $133.23 on Wednesday. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 55.05 and a beta of 0.25. The business’s 50 day moving average price is $136.19 and its 200 day moving average price is $126.81.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences will post 4.84 EPS for the current fiscal year.

Insider Activity

In other news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Morrow sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $139.42, for a total value of $5,576,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 196,994 shares of company stock valued at $27,205,009 in the last 90 days. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Neurocrine Biosciences by 6.6% in the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock valued at $1,363,094,000 after acquiring an additional 838,997 shares in the last quarter. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.6% during the fourth 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 during the period. State Street Corp grew its holdings in Neurocrine Biosciences by 4.1% during the second quarter. State Street Corp now owns 3,956,499 shares of the company’s stock worth $373,098,000 after purchasing an additional 156,584 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Neurocrine Biosciences by 25.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,476,949 shares of the company’s stock worth $194,603,000 after purchasing an additional 297,299 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Neurocrine Biosciences by 3.4% during the first quarter. Geode Capital Management LLC now owns 1,435,737 shares of the company’s stock worth $145,127,000 after purchasing an additional 47,042 shares during the period. 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.