Neurocrine Biosciences (NASDAQ:NBIX) Rating Reiterated by Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIXFree Report) in a report published on Wednesday, Benzinga reports. Morgan Stanley currently has a $160.00 price target on the stock.

Several other analysts have also recently commented on NBIX. StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Monday, June 3rd. Cantor Fitzgerald reissued an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Wedbush reiterated an outperform rating and set a $152.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Finally, Evercore ISI assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They issued an outperform rating and a $175.00 price target for the company. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $152.00.

Get Our Latest Analysis on NBIX

Neurocrine Biosciences Trading Down 0.6 %

Shares of NBIX stock opened at $135.45 on Wednesday. The stock has a market cap of $13.63 billion, a P/E ratio of 37.31 and a beta of 0.36. Neurocrine Biosciences has a twelve month low of $93.02 and a twelve month high of $148.37. The stock has a 50 day moving average of $137.49 and a 200 day moving average of $134.58.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. On average, research analysts predict that Neurocrine Biosciences will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Benevich sold 19,818 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now directly owns 26,504 shares in the company, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Insiders have sold 93,697 shares of company stock worth $12,700,915 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Vanguard Group Inc. increased its position in shares of Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after acquiring an additional 220,598 shares in the last quarter. DSM Capital Partners LLC raised its stake in shares of Neurocrine Biosciences by 15.4% in the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock worth $137,702,000 after buying an additional 163,747 shares in the last quarter. Brown Advisory Inc. boosted its stake in Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after buying an additional 23,831 shares in the last quarter. Braidwell LP raised its position in Neurocrine Biosciences by 3.7% in the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after acquiring an additional 34,662 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

(Get Free Report)

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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