Neurocrine Biosciences’ (NBIX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $155.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 5.22% from the stock’s previous close.

NBIX has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Barclays lifted their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Evercore ISI started coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.08.

Neurocrine Biosciences Trading Up 1.0 %

Shares of Neurocrine Biosciences stock traded up $1.43 during trading hours on Thursday, reaching $147.31. The stock had a trading volume of 76,073 shares, compared to its average volume of 805,443. The firm has a 50 day simple moving average of $138.99 and a two-hundred day simple moving average of $137.75. The firm has a market capitalization of $14.83 billion, a price-to-earnings ratio of 40.58 and a beta of 0.37. Neurocrine Biosciences has a 1 year low of $99.36 and a 1 year high of $150.39.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $512.21 million. Sell-side analysts forecast that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the transaction, the insider now owns 7,507 shares in the company, valued at approximately $1,055,108.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the transaction, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,055,108.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,709 shares of company stock valued at $11,009,150. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NBIX. Mather Group LLC. bought a new position in shares of Neurocrine Biosciences in the first quarter worth $26,000. RFP Financial Group LLC boosted its stake in 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 buying an additional 149 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at about $31,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences in the first quarter valued at about $32,000. Institutional investors own 92.59% of the company’s stock.

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.