Wedbush Reiterates Outperform Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report issued on Wednesday, Benzinga reports. They currently have a $147.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 10.91% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on Neurocrine Biosciences from $127.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. The Goldman Sachs Group increased their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Barclays increased their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.67.

Neurocrine Biosciences Stock Down 0.5 %

Shares of NASDAQ NBIX opened at $132.54 on Wednesday. The business’s 50 day moving average price is $136.16 and its 200 day moving average price is $126.85. The firm has a market cap of $13.19 billion, a P/E ratio of 54.77 and a beta of 0.25. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results 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 return on equity of 12.85% and a net margin of 13.23%. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same period in the previous year, the company posted $0.88 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, research analysts expect 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, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the sale, the director now owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the sale, the director now directly owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold 196,994 shares of company stock valued at $27,205,009 in the last quarter. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 489.8% during the 4th quarter. Dodge & Cox now owns 1,259,744 shares of the company’s stock worth $165,984,000 after acquiring an additional 1,046,142 shares in the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $111,786,000. BlackRock Inc. grew its stake in Neurocrine Biosciences by 6.6% during the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock worth $1,363,094,000 after buying an additional 838,997 shares during the last quarter. Vestal Point Capital LP purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $105,408,000. Finally, Braidwell LP purchased a new position in Neurocrine Biosciences during the 1st quarter worth approximately $77,615,000. Institutional investors and hedge funds 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.