HC Wainwright Reiterates Buy Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $150.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 8.89% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Wedbush restated an “outperform” rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $142.38.

Neurocrine Biosciences Trading Down 0.9 %

NASDAQ NBIX opened at $137.76 on Wednesday. The company has a 50-day moving average price of $136.56 and a two-hundred day moving average price of $127.69. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 56.93 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. As a group, equities research analysts expect that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the sale, the insider now owns 4,894 shares in the company, valued at approximately $694,752.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Benevich sold 75,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The disclosure for this sale can be found here. In the last three months, insiders sold 186,994 shares of company stock valued at $25,806,409. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the business. Mather Group LLC. acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $26,000. Lindbrook Capital LLC increased its stake in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $33,000. Finally, Headinvest LLC acquired a new position in Neurocrine Biosciences in the 3rd quarter valued at $28,000. 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.