HC Wainwright Reiterates Buy Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $146.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 28.32% from the stock’s previous close.

Several other equities research analysts have also recently commented on NBIX. Mizuho boosted their price target on shares of Neurocrine Biosciences from $112.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 21st. TheStreet upgraded shares of Neurocrine Biosciences from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating and set a $130.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, August 2nd. StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 5th. Finally, SVB Securities raised shares of Neurocrine Biosciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $115.00 to $125.00 in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.13.

Neurocrine Biosciences Stock Down 0.5 %

Shares of NBIX stock opened at $113.78 on Wednesday. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $129.29. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 65.77, a price-to-earnings-growth ratio of 1.09 and a beta of 0.46. The firm has a fifty day moving average of $104.19 and a 200-day moving average of $99.87.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. The firm had revenue of $452.70 million during the quarter, compared to analyst estimates of $448.29 million. Neurocrine Biosciences had a net margin of 10.54% and a return on equity of 10.39%. Research analysts expect that Neurocrine Biosciences will post 2.17 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,132 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $107.39, for a total value of $228,955.48. Following the completion of the sale, the chief financial officer now directly owns 27,131 shares in the company, valued at $2,913,598.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Matt Abernethy sold 2,132 shares of Neurocrine Biosciences stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $107.39, for a total transaction of $228,955.48. Following the completion of the transaction, the chief financial officer now directly owns 27,131 shares in the company, valued at $2,913,598.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Lyons sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $115.02, for a total transaction of $575,100.00. Following the transaction, the director now owns 203,697 shares of the company’s stock, valued at $23,429,228.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,646 shares of company stock worth $3,238,890. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Neurocrine Biosciences by 6.6% during the first quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock valued at $1,363,094,000 after buying an additional 838,997 shares during the last quarter. State Street Corp grew its holdings in shares of Neurocrine Biosciences by 4.1% during the second quarter. State Street Corp now owns 3,956,499 shares of the company’s stock valued at $373,098,000 after buying an additional 156,584 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Neurocrine Biosciences by 20.7% during the first quarter. Renaissance Technologies LLC now owns 1,947,064 shares of the company’s stock valued at $197,082,000 after buying an additional 333,400 shares during the last quarter. Armistice Capital LLC boosted its holdings in Neurocrine Biosciences by 76.9% during the first quarter. Armistice Capital LLC now owns 1,592,000 shares of the company’s stock worth $161,142,000 after purchasing an additional 692,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Neurocrine Biosciences by 6.1% during the second quarter. Geode Capital Management LLC now owns 1,523,408 shares of the company’s stock worth $143,431,000 after purchasing an additional 87,671 shares during the last quarter. 93.54% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

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.