HC Wainwright Reaffirms “Buy” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

HC Wainwright reissued their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note released on Friday, Benzinga reports. The brokerage currently has a $190.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird upped their target price on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday, October 29th. Raymond James restated an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Finally, Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Trading Up 1.6 %

NBIX stock opened at $122.21 on Friday. The firm has a market capitalization of $12.37 billion, a PE ratio of 32.76 and a beta of 0.35. Neurocrine Biosciences has a one year low of $103.63 and a one year high of $157.98. The firm has a 50-day moving average of $119.77 and a two-hundred day moving average of $133.49.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. The firm had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter last year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, equities research analysts anticipate that Neurocrine Biosciences will post 4.31 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 14,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,741,180.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,336 shares of company stock valued at $7,063,652 over the last three months. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. RFP Financial Group LLC lifted its stake in Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Neurocrine Biosciences during the second quarter valued at about $28,000. Innealta Capital LLC bought a new stake in Neurocrine Biosciences in the 2nd quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at about $32,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $35,000. 92.59% of the stock is owned by 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.