Neurocrine Biosciences (NASDAQ:NBIX) Lifted to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have $170.00 target price on the stock, up from their previous target price of $140.00.

NBIX has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. Barclays upped their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. Wedbush reaffirmed an outperform rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Finally, Mizuho upped their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $135.99 on Wednesday. The business’s 50 day moving average price is $136.63 and its 200-day moving average price is $127.85. The company has a market cap of $13.53 billion, a P/E ratio of 56.19 and a beta of 0.25. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million for 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%. Neurocrine Biosciences’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, equities analysts predict that Neurocrine Biosciences will post 4.83 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Ingrid Delaet sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated 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 $3,909,454.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,994 shares of company stock worth $25,806,409. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. increased 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 valued at $103,000 after purchasing an additional 74 shares during the period. Quadrant Capital Group LLC grew its holdings in Neurocrine Biosciences by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after acquiring an additional 78 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after acquiring an additional 78 shares during the period. Sunbelt Securities Inc. grew its holdings in Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after acquiring an additional 83 shares during the period. Finally, Balentine LLC grew its holdings in Neurocrine Biosciences by 4.0% during the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after acquiring an additional 89 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

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.