Neurocrine Biosciences’ (NBIX) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $175.00 price objective on the stock.

Several other research analysts have also issued reports on the company. HC Wainwright increased their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Citigroup increased their price objective on Neurocrine Biosciences from $204.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Morgan Stanley increased their price objective on Neurocrine Biosciences from $173.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Finally, Wells Fargo & Company dropped their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $184.15.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $152.25 on Wednesday. The stock has a fifty day moving average price of $131.12 and a two-hundred day moving average price of $137.85. Neurocrine Biosciences has a 52-week low of $115.66 and a 52-week high of $160.18. The firm has a market capitalization of $15.31 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.26 and a beta of 0.34.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the prior year, the company earned $1.69 earnings per share. The business’s revenue was up 28.3% compared to the same quarter last year. On average, equities research analysts predict that Neurocrine Biosciences will post 6.57 EPS for the current fiscal year.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. USA Financial Formulas acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $25,000. Golden State Wealth Management LLC increased its stake in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Eastern Bank bought a new position in Neurocrine Biosciences in the third quarter valued at about $27,000. DJE Kapital AG bought a new position in Neurocrine Biosciences in the fourth quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences News Summary

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.