Neurocrine Biosciences’ (NBIX) “Buy” Rating Reaffirmed at HC Wainwright

by · The Markets Daily

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $190.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 57.98% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Raymond James restated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Oppenheimer upped their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday. Finally, Royal Bank of Canada cut their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $163.91.

View Our Latest Report on Neurocrine Biosciences

Neurocrine Biosciences Stock Down 3.3 %

Shares of Neurocrine Biosciences stock opened at $120.27 on Friday. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 32.24 and a beta of 0.36. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The company’s fifty day moving average is $120.38 and its 200 day moving average is $133.55.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.23). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. The company had revenue of $622.10 million during the quarter, compared to the consensus estimate of $604.11 million. As a group, equities analysts anticipate that Neurocrine Biosciences will post 4.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now directly owns 6,607 shares of the company’s stock, valued at $975,853.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 273 shares of the firm’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 sale, the insider now owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,336 shares of company stock valued at $7,063,652 in the last three months. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in Neurocrine Biosciences by 48.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,744 shares of the company’s stock valued at $654,000 after acquiring an additional 1,550 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Neurocrine Biosciences by 3.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares during the period. State of Alaska Department of Revenue grew its stake in Neurocrine Biosciences by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 10,795 shares of the company’s stock valued at $1,488,000 after buying an additional 185 shares in the last quarter. Norden Group LLC bought a new stake in Neurocrine Biosciences during the 1st quarter valued at $393,000. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Neurocrine Biosciences by 29.2% during the first quarter. First Trust Direct Indexing L.P. now owns 4,130 shares of the company’s stock worth $570,000 after acquiring an additional 933 shares in the last quarter. 92.59% of the stock is currently owned by 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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