HC Wainwright Reiterates Buy Rating for Neurocrine Biosciences (NASDAQ:NBIX)

HC Wainwright reissued their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report released on Wednesday, Benzinga reports. The brokerage currently has a $150.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC reiterated a hold rating on shares of Neurocrine Biosciences in a report on Tuesday, April 23rd. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Oppenheimer reiterated an outperform rating and issued a $200.00 target price on shares of Neurocrine Biosciences in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $155.00 target price 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $142.38.

Neurocrine Biosciences Stock Down 1.3 %

Shares of Neurocrine Biosciences stock opened at $135.99 on Wednesday. The stock’s fifty day moving average is $136.63 and its two-hundred day moving average is $127.94. The company has a market capitalization of $13.53 billion, a PE ratio of 56.19 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 issued its earnings results 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. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same period in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.8 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 completion of the sale, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the sale, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,994 shares of company stock worth $25,806,409. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in shares of Neurocrine Biosciences by 10.5% in the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after purchasing an additional 78 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares during the period. Finally, Balentine LLC increased its holdings in shares of Neurocrine Biosciences by 4.0% in the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after purchasing an additional 89 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

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.