Neurocrine Biosciences (NASDAQ:NBIX) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $155.00 price objective on the stock.

Other analysts also recently issued reports about the company. StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Sunday, August 4th. Barclays reduced their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an overweight rating for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an overweight rating in a report on Wednesday, August 7th. Jefferies Financial Group upped their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a buy rating in a research report on Monday, August 19th. Finally, Piper Sandler raised shares of Neurocrine Biosciences from a neutral rating to an overweight rating and raised their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of Moderate Buy and a consensus price target of $162.20.

Neurocrine Biosciences Stock Up 0.5 %

Shares of Neurocrine Biosciences stock opened at $120.46 on Monday. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98. The firm’s 50 day moving average is $139.07 and its two-hundred day moving average is $138.24. The firm has a market capitalization of $12.12 billion, a P/E ratio of 33.18 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same period last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, research analysts expect that Neurocrine Biosciences will post 4.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 sale, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matt Abernethy sold 14,100 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the completion of the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. The disclosure for this sale can be found here. In the last three months, insiders sold 71,798 shares of company stock worth $10,676,096. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Neurocrine Biosciences in the 4th quarter worth about $35,731,000. The Manufacturers Life Insurance Company boosted its position in shares of Neurocrine Biosciences by 18.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after acquiring an additional 18,070 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Neurocrine Biosciences by 3.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after purchasing an additional 8,630 shares during the period. Vanguard Group Inc. increased its position in Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after purchasing an additional 150,485 shares during the last quarter. Finally, Perceptive Advisors LLC raised its stake in Neurocrine Biosciences by 70.1% during the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after purchasing an additional 111,552 shares during the period. Institutional investors and hedge funds 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.