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

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $147.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 9.49% from the stock’s previous close.

Several other analysts have also issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Mizuho boosted their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Citigroup decreased their price objective on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Barclays boosted 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, Wells Fargo & Company boosted their price objective on Neurocrine Biosciences from $127.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.67.

Neurocrine Biosciences Stock Up 1.0 %

NBIX stock traded up $1.27 during midday trading on Wednesday, hitting $134.26. The company’s stock had a trading volume of 285,090 shares, compared to its average volume of 846,958. The stock’s 50-day moving average price is $136.25 and its 200 day moving average price is $126.77. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 55.45 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. As a group, equities analysts forecast that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Eiry Roberts sold 1,457 shares of the company’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 transaction, the insider now directly owns 20,832 shares in the company, valued at approximately $2,932,937.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eiry Roberts sold 1,457 shares of the company’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 transaction, the insider now directly owns 20,832 shares in the company, valued at approximately $2,932,937.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were 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 $3,909,454.64. The disclosure for this sale can be found here. In the last three months, insiders sold 177,176 shares of company stock worth $24,562,081. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its holdings in Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after acquiring an additional 74 shares during the period. Quadrant Capital Group LLC boosted its holdings in Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after acquiring an additional 78 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after acquiring an additional 78 shares during the period. Sunbelt Securities Inc. boosted its holdings in Neurocrine Biosciences by 34.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after acquiring an additional 83 shares during the period. Finally, Balentine LLC boosted its holdings in Neurocrine Biosciences by 4.0% during the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after acquiring an additional 89 shares during the period. 92.59% of the stock is currently owned by hedge funds and other 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.