Neurocrine Biosciences (NASDAQ:NBIX) Receives Outperform Rating from Oppenheimer

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports. They currently have a $200.00 target price on the stock. Oppenheimer’s price target suggests a potential upside of 45.18% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Barclays boosted their price target on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Citigroup cut their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. The Goldman Sachs Group boosted their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $137.76 on Wednesday. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37. The stock has a 50-day moving average of $136.56 and a 200 day moving average of $127.69. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 56.93 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly 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 during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. On average, equities analysts predict that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the transaction, the director now directly owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock valued at $25,806,409 in the last quarter. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in shares of Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after buying an additional 74 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after buying an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of Neurocrine Biosciences by 34.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after buying an additional 83 shares in the last quarter. Finally, Balentine LLC grew its position in shares of Neurocrine Biosciences by 4.0% during the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after buying an additional 89 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

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.