Cantor Fitzgerald Reiterates “Overweight” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $155.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 26.73% from the stock’s previous close.

A number of other brokerages have also recently issued reports on NBIX. Wedbush restated an “outperform” rating and set a $152.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.20.

Neurocrine Biosciences Price Performance

NBIX opened at $122.31 on Monday. The stock’s 50 day simple moving average is $140.13 and its 200 day simple moving average is $138.50. The stock has a market cap of $12.31 billion, a P/E ratio of 33.69 and a beta of 0.37. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98.

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

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction dated 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 approximately $2,731,028.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Julie Cooke sold 900 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the sale, the insider now directly 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. Insiders have sold a total of 71,798 shares of company stock worth $10,676,096 in the last three months. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth $35,731,000. The Manufacturers Life Insurance Company increased its stake in Neurocrine Biosciences by 18.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after buying an additional 18,070 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Neurocrine Biosciences by 3.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after acquiring an additional 150,485 shares in the last quarter. Finally, Perceptive Advisors LLC increased its position in shares of Neurocrine Biosciences by 70.1% during the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after acquiring an additional 111,552 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.