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

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $147.00 target price on the stock. Wedbush’s price target suggests a potential upside of 10.91% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on NBIX. Citigroup decreased their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. The Goldman Sachs Group lifted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Finally, Mizuho raised their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.67.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $132.54 on Wednesday. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 54.77 and a beta of 0.25. The company’s fifty day moving average price is $136.16 and its two-hundred day moving average price is $126.85. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $139.86, for a total transaction of $1,398,600.00. Following the completion of the sale, the insider now owns 35,882 shares in the company, valued at approximately $5,018,456.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $139.86, for a total value of $1,398,600.00. Following the completion of the sale, the insider now owns 35,882 shares in the company, valued at approximately $5,018,456.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eiry Roberts sold 1,457 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the transaction, the insider now owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,994 shares of company stock worth $27,205,009. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth about $26,000. Acadian Asset Management LLC acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth about $27,000. Headinvest LLC acquired a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $28,000. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $31,000. 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.