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

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has a $170.00 price target on the stock, up from their previous price target of $140.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.35% from the company’s previous close.

Several other equities analysts have also weighed in on NBIX. Wedbush reaffirmed an “outperform” rating and set a $147.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Tuesday. Citigroup lowered their target price on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted 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, Mizuho lifted their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.92.

Neurocrine Biosciences Stock Up 4.8 %

Shares of Neurocrine Biosciences stock opened at $140.09 on Wednesday. The firm has a market capitalization of $13.94 billion, a P/E ratio of 57.89 and a beta of 0.25. The company has a 50 day moving average price of $136.34 and a 200 day moving average price of $127.54. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same period last year, the firm posted $0.88 EPS. Neurocrine Biosciences’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares in the company, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director George J. Morrow sold 40,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,994 shares of company stock worth $25,806,409. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of Neurocrine Biosciences by 10.5% in the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after acquiring an additional 74 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after acquiring an additional 78 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after purchasing an additional 78 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares during the last quarter. Finally, Balentine LLC raised its stake in shares of Neurocrine Biosciences by 4.0% during the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after purchasing an additional 89 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.