Neurocrine Biosciences (NASDAQ:NBIX) Given “Outperform” Rating at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report released on Wednesday morning, Benzinga reports. They currently have a $200.00 target price on the stock.

Several other research analysts also recently weighed in on NBIX. The Goldman Sachs Group upped their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. Wedbush reaffirmed an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Mizuho upped their target price on shares of 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. upped their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Finally, Needham & Company LLC reiterated a hold rating on shares of Neurocrine Biosciences in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $142.38.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $135.99 on Wednesday. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The firm has a fifty day moving average price of $136.63 and a 200-day moving average price of $127.85. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 56.19 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Equities research analysts expect that Neurocrine Biosciences will post 4.83 EPS for the current year.

Insider Buying and Selling

In related news, insider Eric Benevich sold 75,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at approximately $5,683,637.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eiry Roberts sold 1,457 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total transaction of $205,131.03. Following the completion of 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. Insiders have sold 186,994 shares of company stock valued at $25,806,409 in the last ninety days. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Mather Group LLC. bought a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $26,000. Lindbrook Capital LLC lifted its position in Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $33,000. Finally, Headinvest LLC purchased a new stake in Neurocrine Biosciences during the third quarter valued at approximately $28,000. 92.59% of the stock is currently 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.