Neurocrine Biosciences (NASDAQ:NBIX) Receives "Buy" Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $150.00 target price on the stock.

NBIX has been the topic of a number of other reports. 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 objective for the stock from $140.00 to $170.00 in a research note on Wednesday. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. The Goldman Sachs Group boosted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, Oppenheimer reaffirmed an outperform rating and set a $200.00 price target on shares of Neurocrine Biosciences in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of Moderate Buy and a consensus target price of $142.38.

Neurocrine Biosciences Price Performance

NBIX traded down $1.12 on Wednesday, hitting $138.97. The company had a trading volume of 927,988 shares, compared to its average volume of 850,986. The company's fifty day moving average price is $136.34 and its 200 day moving average price is $127.54. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 57.43 and a beta of 0.25. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. During the same period last year, the business posted $0.88 earnings per share. The firm's revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insider Activity

In other Neurocrine Biosciences news, insider Eiry Roberts sold 1,457 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total transaction of $205,131.03. Following the transaction, the insider now owns 20,832 shares in the company, valued at approximately $2,932,937.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Eiry Roberts sold 1,457 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total value of $205,131.03. Following the completion of the transaction, the insider now owns 20,832 shares of the company's stock, valued at $2,932,937.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the business's stock in a transaction on 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 sale, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,994 shares of company stock valued at $25,806,409. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FCF Advisors LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $1,157,000. Redhawk Wealth Advisors Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter valued at $1,245,000. HealthInvest Partners AB acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $1,662,000. Roman Butler Fullerton & Co. bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $1,256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Neurocrine Biosciences by 128.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,939 shares of the company's stock valued at $5,921,000 after purchasing an additional 25,245 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

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.