Neurocrine Biosciences (NASDAQ:NBIX) Lifted to Overweight at Wells Fargo & Company

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm presently has a $170.00 price objective on the stock, up from their prior price objective of $140.00. Wells Fargo & Company‘s target price would suggest a potential upside of 21.35% from the company’s current price.

NBIX has been the subject of a number of other research reports. Barclays boosted their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Wedbush restated an “outperform” rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. The Goldman Sachs Group boosted their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday. Six investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.92.

Neurocrine Biosciences Stock Up 4.8 %

NBIX stock opened at $140.09 on Wednesday. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The stock’s 50 day moving average is $136.34 and its two-hundred day moving average is $127.54. The company has a market capitalization of $13.94 billion, a PE ratio of 57.89 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.13 by $0.31. The company 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 business’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction 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 directly owns 20,832 shares of the company’s stock, valued at $2,932,937.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eiry Roberts sold 1,457 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 20,832 shares of the company’s stock, valued at $2,932,937.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock valued at $25,806,409 over the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mather Group LLC. purchased a new position in Neurocrine Biosciences in the first quarter valued at about $26,000. Headinvest LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at about $28,000. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $33,000. Hedge funds and other 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.