Neurocrine Biosciences (NASDAQ:NBIX) Earns Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $147.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho increased their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a report on Thursday, February 8th. Barclays increased their price target on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. Citigroup cut their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Finally, StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $139.67.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $132.00 on Wednesday. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37. The stock has a market cap of $13.14 billion, a PE ratio of 54.55 and a beta of 0.25. The stock has a 50 day moving average price of $136.15 and a 200 day moving average price of $126.99.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 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 firm had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts predict that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,994 shares of company stock worth $27,205,009. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of NBIX. Mather Group LLC. purchased a new stake in Neurocrine Biosciences during the 1st quarter worth about $26,000. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth about $27,000. Headinvest LLC purchased a new stake in Neurocrine Biosciences during the 3rd quarter worth about $28,000. Lindbrook Capital LLC lifted its holdings in 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 stake in shares of Neurocrine Biosciences during the fourth quarter worth about $31,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.