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

HC Wainwright reaffirmed their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Friday, Benzinga reports. HC Wainwright currently has a $190.00 price target on the stock.

Several other research firms have also recently commented on NBIX. Robert W. Baird raised their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Guggenheim upped their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Citigroup increased their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays dropped 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. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Stock Up 1.6 %

NBIX opened at $122.21 on Friday. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98. The business has a 50 day moving average price of $119.77 and a two-hundred day moving average price of $133.49. The company has a market cap of $12.37 billion, a PE ratio of 32.76 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 net margin of 17.21% and a return on equity of 15.68%. The firm had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter last year, the business earned $0.95 earnings per share. The business’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, sell-side analysts expect that Neurocrine Biosciences will post 4.31 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on 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 approximately $975,853.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total value of $1,740,475.10. Following the completion of the sale, the director now directly owns 119,047 shares of the company’s stock, valued at $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,336 shares of company stock worth $7,063,652. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in the stock. RFP Financial Group LLC boosted its position in shares of Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth $28,000. Innealta Capital LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Neurocrine Biosciences during the first quarter valued at $32,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at about $35,000. Institutional investors 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.