Neurocrine Biosciences (NASDAQ:NBIX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report released on Wednesday, Benzinga reports. The firm currently has a $146.00 price objective on the stock.

Several other equities research analysts also recently commented on the stock. TheStreet raised shares of Neurocrine Biosciences from a c rating to a b- rating in a research note on Tuesday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $133.00 to $134.00 and gave the company an overweight rating in a research note on Wednesday. Royal Bank of Canada upped their target price on shares of Neurocrine Biosciences from $108.00 to $110.00 and gave the company a sector perform rating in a research note on Wednesday, August 2nd. Canaccord Genuity Group upped their target price on shares of Neurocrine Biosciences from $130.00 to $132.00 and gave the company a buy rating in a research note on Wednesday, August 2nd. Finally, Jefferies Financial Group upped their target price on shares of Neurocrine Biosciences to $123.00 in a research note on Monday, August 21st. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $128.13.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $112.45 on Wednesday. The company’s 50 day simple moving average is $104.55 and its 200 day simple moving average is $99.92. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $129.29. The firm has a market capitalization of $10.98 billion, a P/E ratio of 65.00, a P/E/G ratio of 1.12 and a beta of 0.46.

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

Insider Activity at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $115.02, for a total value of $575,100.00. Following the completion of the transaction, the director now owns 203,697 shares of the company’s stock, valued at $23,429,228.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 5,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $115.02, for a total value of $575,100.00. Following the completion of the sale, the director now owns 203,697 shares in the company, valued at $23,429,228.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jude Onyia sold 3,198 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $107.37, for a total transaction of $343,369.26. Following the completion of the sale, the insider now owns 9,638 shares of the company’s stock, valued at approximately $1,034,832.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,646 shares of company stock valued at $3,238,890. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its stake in Neurocrine Biosciences by 3.5% in the second quarter. Captrust Financial Advisors now owns 2,983 shares of the company’s stock valued at $281,000 after acquiring an additional 100 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Neurocrine Biosciences by 0.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,526 shares of the company’s stock worth $1,370,000 after buying an additional 104 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Neurocrine Biosciences by 1.0% during the 4th quarter. First Republic Investment Management Inc. now owns 11,069 shares of the company’s stock worth $1,322,000 after buying an additional 113 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Neurocrine Biosciences by 1.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,430 shares of the company’s stock worth $627,000 after buying an additional 120 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Neurocrine Biosciences by 3.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,375 shares of the company’s stock worth $318,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

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.