Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $198.00 at HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by HC Wainwright from $168.00 to $198.00 in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other analysts have also recently commented on NBIX. UBS Group boosted their target price on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Finally, Needham & Company LLC upped their price target on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.76.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $141.70 on Wednesday. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.27. The business’s 50 day moving average price is $145.93 and its two-hundred day moving average price is $137.76.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 EPS. Sell-side analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George J. Morrow sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares of the company’s stock, valued at $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 43,866 shares of company stock worth $6,570,237. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its position in shares of Neurocrine Biosciences by 10.8% during the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after acquiring an additional 2,045 shares during the last quarter. Saturn V Capital Management LP purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth $7,313,000. Rhenman & Partners Asset Management AB boosted its holdings in shares of Neurocrine Biosciences by 66.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after purchasing an additional 59,400 shares during the last quarter. Capital Fund Management S.A. grew its position in shares of Neurocrine Biosciences by 15.9% during the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after purchasing an additional 27,987 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Neurocrine Biosciences by 87.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock valued at $15,732,000 after purchasing an additional 58,562 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.