Neurocrine Biosciences’ (NBIX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note released on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $155.00 price target on the stock.

Several other brokerages also recently weighed in on NBIX. Barclays lifted their price objective on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. StockNews.com upgraded shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Wells Fargo & Company lifted their price objective on shares of Neurocrine Biosciences from $127.00 to $140.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. Finally, Mizuho boosted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $139.25.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $138.09 on Wednesday. The company has a market cap of $13.74 billion, a P/E ratio of 57.06, a PEG ratio of 0.90 and a beta of 0.25. The firm’s 50-day moving average is $136.96 and its 200-day moving average is $126.05. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. As a group, sell-side analysts predict that Neurocrine Biosciences will post 4.83 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider David W. Boyer sold 456 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the transaction, the insider now directly owns 4,894 shares of the company’s stock, valued at $694,752.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 177,176 shares of company stock valued at $24,562,081 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC grew its position in Neurocrine Biosciences by 195.5% during the first quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock valued at $19,383,000 after purchasing an additional 136,782 shares in the last quarter. HighTower Advisors LLC grew its position in Neurocrine Biosciences by 48.8% during the first quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock valued at $544,000 after purchasing an additional 1,883 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Neurocrine Biosciences by 27.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company’s stock valued at $296,000 after purchasing an additional 684 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Neurocrine Biosciences during the first quarter valued at approximately $27,000. Finally, Dimensional Fund Advisors LP grew its position in Neurocrine Biosciences by 39.1% during the first quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company’s stock valued at $39,148,000 after purchasing an additional 117,422 shares in the last quarter. 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.