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

HC Wainwright reiterated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note released on Friday,Benzinga reports. The brokerage currently has a $185.00 price target on the stock.

NBIX has been the topic of several other research reports. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Barclays increased their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Guggenheim cut their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Canaccord Genuity Group lowered their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $120.69 on Friday. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The stock has a market cap of $12.03 billion, a P/E ratio of 36.68, a P/E/G ratio of 0.76 and a beta of 0.33. The firm has a 50 day moving average price of $136.75 and a 200 day moving average price of $129.71.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,600 shares of company stock valued at $34,348,261 in the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at about $25,000. Huntington National Bank boosted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the period. Brooklyn Investment Group grew its holdings in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the last quarter. GeoWealth Management LLC increased its position in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after acquiring an additional 220 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.