Oppenheimer Reaffirms “Outperform” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

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

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a report on Tuesday. Wells Fargo & Company raised Neurocrine Biosciences from an equal weight rating to an overweight rating and raised their price objective for the company from $140.00 to $170.00 in a report on Wednesday. StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Barclays raised their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. Finally, Cantor Fitzgerald reissued an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $135.99 on Wednesday. The stock’s fifty day moving average price is $136.63 and its two-hundred day moving average price is $127.85. The company has a market cap of $13.53 billion, a PE ratio of 56.19 and a beta of 0.25. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating 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 return on equity of 12.85% and a net margin of 13.23%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. On average, equities analysts predict that Neurocrine Biosciences will post 4.83 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the completion of the sale, the insider now directly owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was 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 approximately $1,088,965.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the sale, the insider now directly owns 20,832 shares of the company’s stock, valued at $2,932,937.28. The disclosure for this sale can be found here. Insiders sold 186,994 shares of company stock valued at $25,806,409 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $105,408,000. Los Angeles Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after buying an additional 364,986 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Neurocrine Biosciences by 120.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock worth $65,761,000 after buying an additional 319,564 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Neurocrine Biosciences by 73.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock worth $73,045,000 after buying an additional 273,952 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $35,731,000. 92.59% of the stock is 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.