Neurocrine Biosciences (NASDAQ:NBIX) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Wednesday, Benzinga reports. The firm currently has a $136.00 price target on the stock.

NBIX has been the subject of several other research reports. Stifel Nicolaus cut their price target on Neurocrine Biosciences from $145.00 to $125.00 in a report on Tuesday, June 6th. HC Wainwright boosted their price target on Neurocrine Biosciences from $140.00 to $146.00 and gave the company a buy rating in a report on Monday, August 21st. Oppenheimer boosted their price target on Neurocrine Biosciences from $150.00 to $154.00 and gave the company an outperform rating in a report on Monday, August 21st. Morgan Stanley reissued an overweight rating and set a $130.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, August 2nd. Finally, Mizuho upped their price objective on Neurocrine Biosciences from $112.00 to $113.00 and gave the stock a neutral rating in a research note on Monday, August 21st. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of Moderate Buy and a consensus target price of $128.13.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $112.45 on Wednesday. The stock has a market cap of $10.98 billion, a PE ratio of 65.00, a price-to-earnings-growth ratio of 1.12 and a beta of 0.46. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $129.29. The stock has a fifty day moving average of $104.55 and a 200 day moving average of $99.92.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.18. Neurocrine Biosciences had a return on equity of 10.39% and a net margin of 10.54%. The business had revenue of $452.70 million during the quarter, compared to analyst estimates of $448.29 million. As a group, sell-side analysts predict that Neurocrine Biosciences will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 824 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $110.93, for a total transaction of $91,406.32. Following the sale, the insider now directly owns 17,263 shares in the company, valued at $1,914,984.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gary A. Lyons sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $115.02, for a total value of $575,100.00. Following the sale, the director now directly owns 203,697 shares in the company, valued at $23,429,228.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Julie Cooke sold 824 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $110.93, for a total value of $91,406.32. Following the completion of the sale, the insider now owns 17,263 shares in the company, valued at $1,914,984.59. The disclosure for this sale can be found here. Insiders have sold a total of 29,646 shares of company stock worth $3,238,890 over the last ninety days. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of NBIX. Rice Hall James & Associates LLC raised its holdings in shares of Neurocrine Biosciences by 195.5% in the first quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock worth $19,383,000 after buying an additional 136,782 shares during the period. HighTower Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 48.8% in the first quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock worth $544,000 after buying an additional 1,883 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Neurocrine Biosciences by 27.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company’s stock worth $296,000 after buying an additional 684 shares during the period. Acadian Asset Management LLC purchased a new position in Neurocrine Biosciences during the 1st quarter worth $27,000. Finally, Dimensional Fund Advisors LP increased its holdings in Neurocrine Biosciences by 39.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company’s stock worth $39,148,000 after purchasing an additional 117,422 shares during the period. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.