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

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $152.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 11.22% from the company’s previous close.

Several other analysts have also issued reports on NBIX. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Evercore ISI initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price target on the stock. Guggenheim increased their price target on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays upped their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, UBS Group lifted their price target on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $150.85.

View Our Latest Stock Analysis on Neurocrine Biosciences

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $136.66 on Wednesday. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37. The firm’s 50-day simple moving average is $138.39 and its 200 day simple moving average is $132.57. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 37.65 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Sell-side analysts anticipate that Neurocrine Biosciences will post 4.17 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $140.03, for a total transaction of $252,054.00. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,051,205.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Ingrid Delaet sold 1,800 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $140.03, for a total value of $252,054.00. Following the completion of the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,051,205.21. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $140.05, for a total value of $238,085.00. Following the transaction, the director now directly owns 29,512 shares in the company, valued at $4,133,155.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,497 shares of company stock valued at $29,263,354. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of Neurocrine Biosciences by 0.7% during the third quarter. Victory Capital Management Inc. now owns 69,832 shares of the company’s stock worth $7,856,000 after acquiring an additional 463 shares in the last quarter. Jump Financial LLC bought a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $887,000. Metis Global Partners LLC lifted its holdings in shares of Neurocrine Biosciences by 4.7% in the third quarter. Metis Global Partners LLC now owns 2,361 shares of the company’s stock valued at $266,000 after purchasing an additional 106 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Neurocrine Biosciences by 14.3% in the third quarter. New York State Common Retirement Fund now owns 243,852 shares of the company’s stock valued at $27,433,000 after purchasing an additional 30,539 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its position in shares of Neurocrine Biosciences by 12.8% during the third quarter. Sound View Wealth Advisors Group LLC now owns 4,534 shares of the company’s stock valued at $510,000 after buying an additional 515 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

(Get Free Report)

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.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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