Neurocrine Biosciences' (NBIX) "Outperform" Rating Reiterated at Wedbush

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report)'s stock had its "outperform" rating reissued by Wedbush in a research report issued to clients and investors on Tuesday,RTT News reports.

Several other brokerages have also recently weighed in on NBIX. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday. Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday. UBS Group raised their price target on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Finally, Guggenheim raised their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Neurocrine Biosciences Trading Up 7.7 %

Shares of Neurocrine Biosciences stock traded up $8.44 during trading on Tuesday, reaching $118.19. The company's stock had a trading volume of 2,719,572 shares, compared to its average volume of 1,083,110. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $157.98. The stock has a market capitalization of $11.69 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The stock has a 50-day moving average price of $106.03 and a two-hundred day moving average price of $121.83.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period in the prior year, the business earned $1.20 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 700 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the sale, the insider now owns 18,831 shares of the company's stock, valued at $2,227,330.68. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,907 shares of company stock worth $1,629,982. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBIX. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $25,000. Huntington National Bank grew its holdings in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares in the last quarter. Brooklyn Investment Group increased its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $34,000. Finally, GeoWealth Management LLC boosted its position in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the period. 92.59% of the stock is owned by 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.

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