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

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

A number of other analysts have also commented on NBIX. Wells Fargo & Company lifted their price objective on Neurocrine Biosciences from $127.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Mizuho boosted their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.67.

Neurocrine Biosciences Stock Up 1.0 %

NBIX stock traded up $1.27 during midday trading on Wednesday, reaching $134.26. The stock had a trading volume of 285,090 shares, compared to its average volume of 846,958. The business has a fifty day simple moving average of $136.25 and a two-hundred day simple moving average of $126.77. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 55.45 and a beta of 0.25. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The firm 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%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, equities analysts predict that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the company’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 transaction, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Eiry Roberts sold 1,457 shares of the company’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 transaction of $205,131.03. Following the sale, the insider now owns 20,832 shares in the company, valued at approximately $2,932,937.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of the company’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 value of $725,300.00. Following the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. Insiders sold a total of 177,176 shares of company stock valued at $24,562,081 in the last quarter. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of 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 purchasing an additional 838,997 shares in the last quarter. Vanguard Group Inc. raised its stake in Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after acquiring an additional 150,485 shares during the period. State Street Corp raised its stake in Neurocrine Biosciences by 4.1% in the 2nd quarter. State Street Corp now owns 3,956,499 shares of the company’s stock valued at $373,098,000 after acquiring an additional 156,584 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Neurocrine Biosciences by 25.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,476,949 shares of the company’s stock valued at $194,603,000 after acquiring an additional 297,299 shares during the period. Finally, Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 3.4% in the 1st quarter. Geode Capital Management LLC now owns 1,435,737 shares of the company’s stock valued at $145,127,000 after acquiring an additional 47,042 shares during the period. Institutional investors 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.