Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Reaffirmed by Cantor Fitzgerald

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $155.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 26.26% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Robert W. Baird increased their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $152.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. Finally, UBS Group increased their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.20.

Neurocrine Biosciences Trading Up 0.4 %

NBIX traded up $0.51 on Monday, hitting $122.76. The company had a trading volume of 337,023 shares, compared to its average volume of 853,863. The firm has a market cap of $12.35 billion, a P/E ratio of 33.66 and a beta of 0.37. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98. The company’s fifty day moving average price is $140.95 and its 200 day moving average price is $138.62.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. On average, analysts predict that Neurocrine Biosciences will post 4.19 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,551,738.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Julie Cooke sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,798 shares of company stock worth $10,676,096. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. Norges Bank acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth $35,731,000. The Manufacturers Life Insurance Company raised its stake in shares of Neurocrine Biosciences by 18.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after buying an additional 18,070 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after buying an additional 150,485 shares during the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of Neurocrine Biosciences by 70.1% during the 4th quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after buying an additional 111,552 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.