HC Wainwright Reaffirms Buy Rating for Neurocrine Biosciences (NASDAQ:NBIX)

HC Wainwright reaffirmed their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $150.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. Barclays lifted their target price on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday. Wedbush reiterated an outperform rating and set a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Citigroup lowered their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a report on Thursday, January 25th. 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 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 Down 0.8 %

NASDAQ NBIX opened at $138.97 on Wednesday. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The firm has a market capitalization of $13.83 billion, a PE ratio of 57.43 and a beta of 0.25. The stock’s 50 day moving average is $136.48 and its 200 day moving average is $127.62.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS 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 analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, research analysts anticipate that Neurocrine Biosciences will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the transaction, the chief executive officer now directly owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ingrid Delaet sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock worth $25,806,409 over the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in Neurocrine Biosciences by 7.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 337,737 shares of the company’s stock worth $46,581,000 after purchasing an additional 22,177 shares in the last quarter. Covenant Asset Management LLC raised its holdings in shares of Neurocrine Biosciences by 1.9% in the first quarter. Covenant Asset Management LLC now owns 28,306 shares of the company’s stock worth $3,904,000 after buying an additional 535 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Neurocrine Biosciences by 3.6% during the first quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock worth $3,945,000 after buying an additional 1,000 shares during the period. Moody Lynn & Lieberson LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter valued at $3,093,000. Finally, Raymond James & Associates increased its position in shares of Neurocrine Biosciences by 3.9% in the 1st quarter. Raymond James & Associates now owns 60,348 shares of the company’s stock valued at $8,323,000 after acquiring an additional 2,275 shares during the period. Hedge funds and other 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.