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

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $150.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 8.89% from the stock’s current price.

Several other brokerages have also commented on NBIX. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Barclays increased their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Mizuho upped their target price 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. raised their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Tuesday. Six investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $142.38.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $137.76 on Wednesday. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The stock has a market capitalization of $13.71 billion, a PE ratio of 56.93 and a beta of 0.25. The business’s 50-day moving average is $136.56 and its 200 day moving average is $127.69.

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, topping analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 4.84 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the completion of the transaction, the chief executive officer now owns 502,188 shares in the company, valued at $70,652,829.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were 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 in the company, valued at approximately $2,932,937.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $140.69, for a total transaction of $380,847.83. Following the sale, the chief executive officer now owns 502,188 shares in the company, valued at $70,652,829.72. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock worth $25,806,409 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently modified their holdings of NBIX. Vanguard Group Inc. boosted its stake 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 buying an additional 150,485 shares during the period. DSM Capital Partners LLC raised its position in Neurocrine Biosciences by 15.4% in the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock worth $137,702,000 after purchasing an additional 163,747 shares during the period. Brown Advisory Inc. boosted its position in shares of Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after buying an additional 23,831 shares during the period. Braidwell LP raised its holdings in shares of Neurocrine Biosciences by 3.7% in the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after buying an additional 34,662 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after acquiring 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.