Neurocrine Biosciences’ (NBIX) “Buy” Rating Reaffirmed at HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $185.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 59.33% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on NBIX. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Wedbush dropped their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Guggenheim dropped their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.90.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $116.11 on Friday. The company has a 50-day moving average of $136.75 and a 200-day moving average of $129.71. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 0.76 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Sell-side analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This trade represents a 30.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,600 shares of company stock valued at $34,348,261 in the last 90 days. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Forum Financial Management LP bought a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $254,000. Peak Retirement Planning Inc. bought a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $1,029,000. Toronto Dominion Bank raised its holdings in shares of Neurocrine Biosciences by 3.9% in the fourth quarter. Toronto Dominion Bank now owns 13,183 shares of the company’s stock valued at $1,799,000 after purchasing an additional 499 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $290,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Neurocrine Biosciences by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company’s stock valued at $146,068,000 after purchasing an additional 175,879 shares during 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.