Oppenheimer Reiterates Outperform Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by analysts at Oppenheimer in a research report issued on Wednesday, Benzinga reports. They currently have a $200.00 price target on the stock. Oppenheimer’s price objective would indicate a potential upside of 45.18% from the company’s current price.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Citigroup decreased their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Barclays lifted their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Mizuho lifted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Neurocrine Biosciences Stock Down 0.9 %

Shares of Neurocrine Biosciences stock opened at $137.76 on Wednesday. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 56.93 and a beta of 0.25. The company has a 50-day simple moving average of $136.56 and a two-hundred day simple moving average of $127.69.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock worth $25,806,409 in the last quarter. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $1,279,433,000 after buying an additional 150,485 shares during the period. DSM Capital Partners LLC grew its position in Neurocrine Biosciences by 15.4% during the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after buying an additional 163,747 shares during the period. Brown Advisory Inc. grew its position in Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after buying an additional 23,831 shares during the period. Braidwell LP grew its position in Neurocrine Biosciences by 3.7% during the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after buying an additional 34,662 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after buying an additional 364,986 shares during the period. 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.