Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report report published on Thursday morning, Benzinga reports. They currently have a $190.00 price target on the stock.

Several other equities research analysts also recently issued reports on the company. Oppenheimer increased their price target on Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an outperform rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Sunday, August 4th. Robert W. Baird lifted their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an outperform rating in a research note on Friday, August 2nd. UBS Group raised their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a buy rating in a report on Tuesday, May 28th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned 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 $163.00.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $127.06 on Thursday. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 35.00 and a beta of 0.37. The firm’s 50 day simple moving average is $143.93 and its 200 day simple moving average is $139.37. 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 announced its quarterly 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). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period in the prior year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities research analysts expect that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,789,638.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Julie Cooke sold 12,632 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,789,638.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,798 shares of company stock valued at $10,676,096. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Mather Group LLC. acquired a new stake in Neurocrine Biosciences during the 1st quarter valued at $26,000. RFP Financial Group LLC raised its position in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth about $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $31,000. 92.59% of the stock is currently owned by institutional investors.

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.