Neurocrine Biosciences (NASDAQ:NBIX) Rating Reiterated by Wedbush

Wedbush reiterated their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note released on Wednesday, Benzinga reports. They currently have a $147.00 price target on the stock.

A number of other analysts also recently commented on NBIX. Wells Fargo & Company upped their price objective on Neurocrine Biosciences from $127.00 to $140.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. The Goldman Sachs Group increased their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a report on Thursday, January 25th. Citigroup lowered their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $139.67.

Neurocrine Biosciences Stock Down 0.4 %

NBIX stock opened at $132.00 on Wednesday. The company has a market cap of $13.14 billion, a price-to-earnings ratio of 54.55 and a beta of 0.25. The business has a fifty day simple moving average of $136.15 and a 200-day simple moving average of $126.99. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. As a group, analysts expect that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 31st. The stock was 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 directly owns 20,832 shares in the company, valued at $2,932,937.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 31st. The stock was 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 directly owns 20,832 shares in the company, valued at $2,932,937.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $139.86, for a total value of $1,398,600.00. Following the completion of the transaction, the insider now owns 35,882 shares of the company’s stock, valued at $5,018,456.52. The disclosure for this sale can be found here. Insiders sold a total of 196,994 shares of company stock valued at $27,205,009 in the last ninety days. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of the company. Dodge & Cox boosted its stake in Neurocrine Biosciences by 489.8% in the fourth quarter. Dodge & Cox now owns 1,259,744 shares of the company’s stock valued at $165,984,000 after acquiring an additional 1,046,142 shares during the period. Norges Bank acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $111,786,000. BlackRock Inc. boosted its stake in Neurocrine Biosciences by 6.6% in the first quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock valued at $1,363,094,000 after acquiring an additional 838,997 shares during the period. Vestal Point Capital LP acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $105,408,000. Finally, Braidwell LP acquired a new position in Neurocrine Biosciences in the first quarter valued at approximately $77,615,000. 92.59% of the stock is currently 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.