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

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

A number of other equities research analysts have also issued reports on NBIX. Mizuho upped their price objective on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Barclays upped their price objective on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $170.00 in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Citigroup lowered their target price on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.38.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $140.09 on Wednesday. The company has a fifty day moving average of $136.34 and a two-hundred day moving average of $127.54. The stock has a market capitalization of $13.94 billion, a PE ratio of 57.89 and a beta of 0.25. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,683,637.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eiry Roberts sold 1,457 shares of the firm’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 transaction of $205,131.03. Following the transaction, the insider now owns 20,832 shares in the company, valued at $2,932,937.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,994 shares of company stock valued at $25,806,409. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. FCF Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $1,157,000. Redhawk Wealth Advisors Inc. acquired a new position in Neurocrine Biosciences in the 4th quarter valued at about $1,245,000. HealthInvest Partners AB acquired a new position in Neurocrine Biosciences in the 4th quarter valued at about $1,662,000. Roman Butler Fullerton & Co. acquired a new position in Neurocrine Biosciences in the 4th quarter valued at about $1,256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Neurocrine Biosciences by 128.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,939 shares of the company’s stock valued at $5,921,000 after purchasing an additional 25,245 shares during the last quarter. 92.59% of the stock is currently 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.