Neurocrine Biosciences’ (NBIX) Outperform Rating Reiterated at Oppenheimer

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer in a note issued to investors on Wednesday, Benzinga reports. They currently have a $200.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 42.77% from the stock’s previous close.

Several other equities analysts have also recently weighed in on NBIX. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Barclays lifted their price target on Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Citigroup reduced 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. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Tuesday. Finally, StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $142.38.

Neurocrine Biosciences Trading Up 4.8 %

NBIX stock opened at $140.09 on Wednesday. The stock has a 50-day moving average price of $136.34 and a two-hundred day moving average price of $127.54. The stock has a market cap of $13.94 billion, a PE ratio of 57.89 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) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. Neurocrine Biosciences’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. On average, analysts forecast that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,683,637.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,994 shares of company stock worth $25,806,409. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its stake in shares of Neurocrine Biosciences by 10.5% in the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after purchasing an additional 74 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after purchasing an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after purchasing an additional 78 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares during the last quarter. Finally, Balentine LLC grew its stake in shares of Neurocrine Biosciences by 4.0% in the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

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.