HC Wainwright Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $160.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by HC Wainwright from $150.00 to $160.00 in a research note published on Thursday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research analysts have also commented on NBIX. Mizuho increased their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Needham & Company LLC reiterated a hold rating on shares of Neurocrine Biosciences in a research note on Wednesday. Citigroup cut their price objective on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a research note on Thursday, February 8th. Finally, Barclays upped their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an overweight rating in a research report on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

NASDAQ NBIX traded up $0.88 on Thursday, reaching $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The business has a 50 day moving average price of $137.37 and a 200 day moving average price of $128.88. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same period in the previous year, the company earned $0.88 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. On average, analysts anticipate that Neurocrine Biosciences will post 4.78 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider David W. Boyer sold 1,328 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the sale, the insider now owns 4,895 shares in the company, valued at approximately $662,831.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the transaction, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David W. Boyer sold 1,328 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the sale, the insider now owns 4,895 shares in the company, valued at approximately $662,831.95. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock valued at $25,039,887 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Vestal Point Capital LP bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $105,408,000. Los Angeles Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 66.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after purchasing an additional 364,986 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Neurocrine Biosciences by 120.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock worth $65,761,000 after purchasing an additional 319,564 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Neurocrine Biosciences by 73.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock worth $73,045,000 after buying an additional 273,952 shares in the last quarter. Finally, Norges Bank bought a new position in Neurocrine Biosciences in the 4th quarter valued at $35,731,000. Institutional investors and hedge funds 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.