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

HC Wainwright reiterated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report published on Wednesday, Benzinga reports. HC Wainwright currently has a $150.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and increased their price objective for the company from $140.00 to $170.00 in a report on Wednesday. Citigroup decreased their price objective on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. StockNews.com upgraded shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Finally, Needham & Company LLC restated a hold rating on shares of Neurocrine Biosciences in a report on Tuesday. Six research 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. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Trading Down 1.3 %

Shares of NASDAQ:NBIX opened at $135.99 on Wednesday. The firm’s 50 day moving average is $136.63 and its two-hundred day moving average is $127.85. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37. The firm has a market capitalization of $13.53 billion, a P/E ratio of 56.19 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. Analysts predict that Neurocrine Biosciences will post 4.83 EPS for the current year.

Insider Activity

In other news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director George J. Morrow sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.42, for a total transaction of $5,576,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 40,778 shares in the company, valued at $5,438,154.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,994 shares of company stock worth $25,806,409. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares during the last quarter. DSM Capital Partners LLC grew its stake 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 valued at $137,702,000 after buying an additional 163,747 shares during the last quarter. Brown Advisory Inc. grew its stake in Neurocrine Biosciences by 2.2% in the 4th 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 last quarter. Braidwell LP grew its stake in Neurocrine Biosciences by 3.7% in the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after buying an additional 34,662 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after buying an additional 364,986 shares during the last quarter. 92.59% of the stock is currently 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.