Neurocrine Biosciences’ (NBIX) Buy Rating Reiterated at HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $190.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 53.52% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on NBIX. Robert W. Baird lifted their target price on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. BMO Capital Markets raised their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI began coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 price objective for the company. Five investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.28.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $123.76 on Thursday. The company has a market cap of $12.45 billion, a P/E ratio of 34.09 and a beta of 0.37. The stock has a 50 day simple moving average of $144.19 and a two-hundred day simple moving average of $139.44. Neurocrine Biosciences has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. On average, research analysts predict that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,551,738.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Gary A. Lyons sold 930 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,551,738.38. 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 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Vestal Point Capital LP purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $105,408,000. 1832 Asset Management L.P. grew its position in Neurocrine Biosciences by 1,370.7% during the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after buying an additional 504,400 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after buying an additional 364,986 shares in the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $35,731,000. Finally, AQR Capital Management LLC grew its position in Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after buying an additional 228,444 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.