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

Neurocrine Biosciences (NASDAQ:NBIXGet Rating)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued on Thursday, Zacks.com reports. Wedbush also issued estimates for Neurocrine Biosciences’ Q4 2022 earnings at $0.64 EPS, Q1 2023 earnings at $0.51 EPS, Q2 2023 earnings at $0.74 EPS, Q3 2023 earnings at $0.93 EPS and Q4 2023 earnings at $1.12 EPS.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. Barclays raised their target price on shares of Neurocrine Biosciences from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Piper Sandler lowered shares of Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $114.00 to $94.00 in a research report on Thursday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. Finally, Royal Bank of Canada lowered shares of Neurocrine Biosciences from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $122.00 to $90.00 in a research report on Tuesday, January 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Hold” and an average price target of $111.17.

Shares of NASDAQ NBIX opened at $91.68 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.96 and a quick ratio of 3.83. The company has a market cap of $8.76 billion, a P/E ratio of 100.75, a PEG ratio of 4.48 and a beta of 0.71. Neurocrine Biosciences has a 1 year low of $71.88 and a 1 year high of $108.01. The firm has a 50-day simple moving average of $93.16 and a two-hundred day simple moving average of $88.81.

Neurocrine Biosciences (NASDAQ:NBIXGet Rating) last announced its quarterly earnings data on Friday, February 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.69). The firm had revenue of $312.00 million during the quarter, compared to the consensus estimate of $317.72 million. Neurocrine Biosciences had a return on equity of 6.89% and a net margin of 7.90%. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.58 EPS. As a group, equities research analysts expect that Neurocrine Biosciences will post 1.84 EPS for the current year.

In other news, CFO Matt Abernethy sold 3,310 shares of Neurocrine Biosciences stock in a transaction on Monday, February 7th. The shares were sold at an average price of $80.79, for a total transaction of $267,414.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary A. Lyons sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Monday, April 25th. The stock was sold at an average price of $92.76, for a total transaction of $1,391,400.00. Following the sale, the director now owns 208,697 shares of the company’s stock, valued at $19,358,733.72. The disclosure for this sale can be found here. Insiders sold 46,743 shares of company stock worth $4,232,771 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Several large investors have recently bought and sold shares of NBIX. Norges Bank acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $65,446,000. Eaton Vance Management lifted its position in Neurocrine Biosciences by 52.9% during the third quarter. Eaton Vance Management now owns 1,885,906 shares of the company’s stock valued at $181,241,000 after purchasing an additional 652,772 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $37,219,000. California Public Employees Retirement System lifted its position in Neurocrine Biosciences by 199.6% during the fourth quarter. California Public Employees Retirement System now owns 628,882 shares of the company’s stock valued at $53,562,000 after purchasing an additional 418,990 shares during the period. Finally, Deerfield Management Company L.P. Series C lifted its position in Neurocrine Biosciences by 57.6% during the third quarter. Deerfield Management Company L.P. Series C now owns 1,142,415 shares of the company’s stock valued at $109,569,000 after purchasing an additional 417,415 shares during the period. Institutional investors and hedge funds own 95.93% of the company’s stock.

About Neurocrine Biosciences (Get Rating)

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.

See Also

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

Receive News & Ratings for Neurocrine Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurocrine Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.