Neurocrine Biosciences’ (NBIX) “Outperform” Rating Reaffirmed at Raymond James

Raymond James reaffirmed their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Thursday, Marketbeat reports. They currently have a $155.00 price target on the stock.

NBIX has been the subject of several other research reports. Royal Bank of Canada cut their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a sector perform rating for the company in a research note on Friday, October 4th. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a buy rating in a report on Friday, August 2nd. HC Wainwright reaffirmed a buy rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Oppenheimer boosted their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Five research 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. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of Moderate Buy and a consensus price target of $164.52.

Neurocrine Biosciences Trading Up 2.7 %

Shares of NBIX stock opened at $115.49 on Thursday. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The company’s 50-day moving average price is $128.87 and its 200-day moving average price is $135.52. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 31.82 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. 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. In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary A. Lyons sold 930 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the sale, the director now directly owns 119,047 shares in the company, valued at approximately $17,860,621.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,798 shares of company stock valued at $9,274,196. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the company. RFP Financial Group LLC lifted its holdings in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences in the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Neurocrine Biosciences in the 1st quarter valued at $32,000. Hedge funds and other 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.