Neurocrine Biosciences’ (NBIX) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report issued on Wednesday, Benzinga reports. They currently have a $147.00 price objective on the stock.

A number of other research firms have also recently issued reports on NBIX. Citigroup decreased their price objective on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a research report on Thursday, February 8th. Cantor Fitzgerald restated an overweight rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their price target on shares of Neurocrine Biosciences from $127.00 to $140.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. Finally, Mizuho boosted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of Moderate Buy and a consensus price target of $139.67.

Neurocrine Biosciences Stock Up 0.2 %

Neurocrine Biosciences stock opened at $133.23 on Wednesday. The company has a market capitalization of $13.26 billion, a PE ratio of 55.05 and a beta of 0.25. The firm has a fifty day simple moving average of $136.19 and a two-hundred day simple moving average of $126.81. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (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 firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now owns 29,512 shares in the company, valued at $3,909,454.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $139.86, for a total transaction of $1,398,600.00. Following the transaction, the insider now owns 35,882 shares in the company, valued at $5,018,456.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,994 shares of company stock worth $27,205,009. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Dodge & Cox lifted its position in Neurocrine Biosciences by 489.8% during the fourth quarter. Dodge & Cox now owns 1,259,744 shares of the company’s stock valued at $165,984,000 after purchasing an additional 1,046,142 shares during the period. Norges Bank purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $111,786,000. BlackRock Inc. increased its holdings in Neurocrine Biosciences by 6.6% during the first quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock valued at $1,363,094,000 after buying an additional 838,997 shares during the last quarter. Vestal Point Capital LP purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $105,408,000. Finally, Braidwell LP purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $77,615,000. Institutional investors own 92.59% of the company’s stock.

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.