Neurocrine Biosciences’ (NBIX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Monday, Benzinga reports. They currently have a $155.00 price target on the stock.

Several other brokerages have also weighed in on NBIX. Needham & Company LLC reiterated a hold rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. BMO Capital Markets cut their price objective on Neurocrine Biosciences from $142.00 to $128.00 and set a market perform rating for the company in a research report on Thursday, August 29th. Barclays lowered their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an overweight rating for the company in a research note on Monday, September 9th. Oppenheimer boosted their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Finally, Guggenheim increased their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of Moderate Buy and an average price target of $162.20.

Neurocrine Biosciences Stock Down 2.0 %

NASDAQ NBIX opened at $119.85 on Monday. The business’s fifty day simple moving average is $139.59 and its 200-day simple moving average is $138.37. The firm has a market cap of $12.06 billion, a PE ratio of 33.02 and a beta of 0.37. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same period last year, the firm earned $0.95 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 30.4% on a year-over-year basis. Research analysts expect that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at $2,731,028.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Gary A. Lyons sold 930 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the sale, the director now directly owns 119,047 shares in the company, valued at approximately $17,860,621.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Cooke sold 900 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the transaction, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,798 shares of company stock valued at $10,676,096. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $75,000. Dimensional Fund Advisors LP raised its position in Neurocrine Biosciences by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock valued at $44,343,000 after purchasing an additional 5,907 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position 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 acquiring an additional 78 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Neurocrine Biosciences by 87.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,637 shares of the company’s stock valued at $1,138,000 after acquiring an additional 4,030 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings 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 valued at $273,000 after acquiring an additional 78 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.