Neurocrine Biosciences (NASDAQ:NBIX) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $155.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. Evercore ISI initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, May 14th. They set an outperform rating and a $175.00 price objective on the stock. Wedbush restated an outperform rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Guggenheim upped their price objective on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of Moderate Buy and a consensus target price of $154.08.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $146.10 on Thursday. The firm’s fifty day moving average is $139.07 and its 200-day moving average is $137.81. Neurocrine Biosciences has a 52 week low of $99.36 and a 52 week high of $150.39. The firm has a market cap of $14.70 billion, a P/E ratio of 40.25 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the transaction, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the transaction, the insider now owns 7,507 shares in the company, valued at $1,055,108.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the transaction, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Insiders sold 80,709 shares of company stock worth $11,009,150 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of Neurocrine Biosciences by 10.5% in the fourth 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 lifted its holdings in shares of Neurocrine Biosciences by 3.9% in the fourth 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. lifted its holdings in shares of Neurocrine Biosciences by 3.2% in the fourth 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. Commonwealth Equity Services LLC lifted its holdings in shares of Neurocrine Biosciences by 0.6% in the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after buying an additional 84 shares in the last quarter. Finally, Balentine LLC lifted its holdings in shares of Neurocrine Biosciences by 4.0% in the fourth 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. 92.59% of the stock is owned by hedge funds and other 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.