Neurocrine Biosciences (NASDAQ:NBIX) Rating Reiterated by HC Wainwright

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

NBIX has been the topic of a number of other reports. Cantor Fitzgerald reiterated an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. The Goldman Sachs Group raised their price target on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research note on Thursday, January 25th. Citigroup reduced their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a research note on Thursday, February 8th. Mizuho raised their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC restated 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $142.38.

Neurocrine Biosciences Stock Down 1.3 %

Shares of Neurocrine Biosciences stock opened at $135.99 on Wednesday. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 56.19 and a beta of 0.25. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $148.37. The firm’s 50-day moving average price is $136.63 and its two-hundred day moving average price is $127.85.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million for 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%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. On average, sell-side analysts expect that Neurocrine Biosciences will post 4.83 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred 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 approximately $5,438,154.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,994 shares of company stock worth $25,806,409. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently modified their holdings of the stock. New York State Teachers Retirement System grew its position in Neurocrine Biosciences by 1.5% in the 1st quarter. New York State Teachers Retirement System now owns 103,310 shares of the company’s stock valued at $14,249,000 after purchasing an additional 1,541 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Neurocrine Biosciences by 42.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,823 shares of the company’s stock valued at $8,802,000 after purchasing an additional 18,884 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Neurocrine Biosciences by 9.1% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,023 shares of the company’s stock valued at $5,796,000 after purchasing an additional 3,500 shares during the period. Assenagon Asset Management S.A. grew its position 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 valued at $46,581,000 after purchasing an additional 22,177 shares during the period. Finally, Covenant Asset Management LLC grew its position in Neurocrine Biosciences by 1.9% in the 1st quarter. Covenant Asset Management LLC now owns 28,306 shares of the company’s stock valued at $3,904,000 after purchasing an additional 535 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.