Neurocrine Biosciences’ (NBIX) Outperform Rating Reiterated at Oppenheimer

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by Oppenheimer in a report released on Wednesday, Benzinga reports. They currently have a $200.00 price objective on the stock. Oppenheimer’s price objective would suggest a potential upside of 42.77% from the stock’s previous close.

A number of other brokerages have also recently weighed in on NBIX. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research 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. Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $170.00 in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Finally, Citigroup dropped their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.38.

Neurocrine Biosciences Stock Up 4.8 %

NASDAQ:NBIX opened at $140.09 on Wednesday. The business’s 50 day moving average is $136.34 and its two-hundred day moving average is $127.54. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37. The company has a market cap of $13.94 billion, a PE ratio of 57.89 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that Neurocrine Biosciences will post 4.84 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The disclosure for this sale can be found here. Insiders sold a total of 186,994 shares of company stock valued at $25,806,409 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Neurocrine Biosciences by 1.6% in the fourth 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 period. DSM Capital Partners LLC boosted its position in shares of Neurocrine Biosciences by 15.4% in the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock worth $137,702,000 after buying an additional 163,747 shares during the period. Brown Advisory Inc. boosted its position in shares of Neurocrine Biosciences by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock worth $146,703,000 after buying an additional 23,831 shares during the period. Braidwell LP boosted its position in shares of Neurocrine Biosciences by 3.7% in the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after buying an additional 34,662 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 66.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after buying an additional 364,986 shares during the period. Institutional investors and hedge funds 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.