Neurocrine Biosciences (NASDAQ:NBIX) Earns Buy Rating from HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $190.00 target price on the stock. HC Wainwright's price objective points to a potential upside of 55.47% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, July 12th. Barclays reduced their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research report on Monday, September 9th. Raymond James reaffirmed an "outperform" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Cantor Fitzgerald reissued an "overweight" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $163.91.

Neurocrine Biosciences Trading Up 1.6 %

Shares of NBIX stock traded up $1.94 during trading hours on Friday, reaching $122.21. 1,512,407 shares of the company's stock were exchanged, compared to its average volume of 863,768. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98. The stock has a market cap of $12.34 billion, a PE ratio of 32.59 and a beta of 0.36. The stock's fifty day moving average price is $120.38 and its two-hundred day moving average price is $133.55.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.23). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. The company had revenue of $622.10 million for the quarter, compared to analyst estimates of $604.11 million. On average, equities analysts expect that Neurocrine Biosciences will post 4.37 EPS for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now owns 6,607 shares in the company, valued at $975,853.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Gary A. Lyons sold 11,570 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total value of $1,740,475.10. Following the transaction, the director now owns 119,047 shares of the company's stock, valued at $17,908,240.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the sale, the insider now owns 6,607 shares in the company, valued at approximately $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,336 shares of company stock worth $7,063,652. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. RFP Financial Group LLC raised its holdings in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company's stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new position in Neurocrine Biosciences during the second quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new position in Neurocrine Biosciences during the first quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new stake in Neurocrine Biosciences in the second quarter valued at approximately $35,000. Institutional investors and hedge funds 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.