Neurocrine Biosciences (NASDAQ:NBIX) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $190.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim upped their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Jefferies Financial Group boosted their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Raymond James restated an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price objective on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. 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 Stock Performance

Shares of NBIX traded up $1.94 during mid-day trading on Friday, hitting $122.21. 1,512,407 shares of the company were exchanged, compared to its average volume of 863,768. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98. The company has a 50 day moving average of $119.77 and a 200-day moving average of $133.49. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 32.76 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.23). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. The company had revenue of $622.10 million during the quarter, compared to analysts’ expectations of $604.11 million. Research analysts anticipate that Neurocrine Biosciences will post 4.37 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the transaction, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. 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 Trading of Neurocrine Biosciences

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after acquiring an additional 220,598 shares during the last quarter. Renaissance Technologies LLC increased its stake in Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after buying an additional 216,500 shares during the last quarter. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after buying an additional 228,444 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Neurocrine Biosciences by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after buying an additional 13,069 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Neurocrine Biosciences by 40.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock worth $97,828,000 after buying an additional 203,934 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.