Neurocrine Biosciences (NASDAQ:NBIX) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Wednesday, Benzinga reports. They currently have a $150.00 price target on the stock.

A number of other research analysts have also issued reports on NBIX. Barclays boosted their target price on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a report on Tuesday. Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and upped their price target for the company from $140.00 to $170.00 in a report on Wednesday. Finally, Mizuho lifted their price objective on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Six equities 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 company currently has a consensus rating of Moderate Buy and a consensus target price of $142.38.

Neurocrine Biosciences Trading Down 0.8 %

Shares of NASDAQ:NBIX opened at $138.97 on Wednesday. The firm has a market cap of $13.83 billion, a PE ratio of 57.43 and a beta of 0.25. The company has a fifty day simple moving average of $136.48 and a 200 day simple moving average of $127.62. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. As a group, equities research analysts forecast that Neurocrine Biosciences will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares in the company, valued at $5,438,154.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Charles Gorman sold 2,707 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the sale, the chief executive officer now directly owns 502,188 shares in the company, valued at approximately $70,652,829.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,994 shares of company stock worth $25,806,409. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in Neurocrine Biosciences by 7.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 337,737 shares of the company’s stock worth $46,581,000 after purchasing an additional 22,177 shares during the last quarter. Covenant Asset Management LLC raised its position in shares of Neurocrine Biosciences by 1.9% during the first quarter. Covenant Asset Management LLC now owns 28,306 shares of the company’s stock worth $3,904,000 after acquiring an additional 535 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Neurocrine Biosciences by 3.6% in the first quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock worth $3,945,000 after acquiring an additional 1,000 shares during the period. Moody Lynn & Lieberson LLC bought a new stake in Neurocrine Biosciences in the first quarter valued at approximately $3,093,000. Finally, Raymond James & Associates increased its position in Neurocrine Biosciences by 3.9% during the 1st quarter. Raymond James & Associates now owns 60,348 shares of the company’s stock valued at $8,323,000 after purchasing an additional 2,275 shares during the period. 92.59% of the stock is currently 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.