Neurocrine Biosciences (NASDAQ:NBIX) Given Overweight Rating at Cantor Fitzgerald

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They currently have a $155.00 price objective on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 5.22% from the company’s current price.

A number of other brokerages have also recently issued reports on NBIX. Barclays upped their price objective on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. HC Wainwright upped their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $169.00 to $173.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.08.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $1.43 during trading on Thursday, hitting $147.31. 76,073 shares of the company were exchanged, compared to its average volume of 805,443. The firm has a market capitalization of $14.83 billion, a P/E ratio of 40.58 and a beta of 0.37. Neurocrine Biosciences has a 1-year low of $99.36 and a 1-year high of $150.39. The firm’s fifty day moving average price is $138.99 and its 200 day moving average price is $137.75.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). The business had revenue of $515.30 million during the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,731,028.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total value of $38,370.15. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,055,108.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Julie Cooke sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The disclosure for this sale can be found here. Insiders sold 80,709 shares of company stock valued at $11,009,150 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of NBIX. Mather Group LLC. bought a new stake in Neurocrine Biosciences in the first quarter valued at approximately $26,000. RFP Financial Group LLC grew its stake in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $31,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Neurocrine Biosciences in the first quarter worth $32,000. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.