Neurocrine Biosciences (NASDAQ:NBIX) Rating Reiterated by Cantor Fitzgerald

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $155.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 26.73% from the stock’s current price.

Several other brokerages have also recently commented on NBIX. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Royal Bank of Canada reduced their price target on Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Finally, Guggenheim upped their target price on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.20.

Neurocrine Biosciences Trading Up 0.0 %

Shares of NASDAQ NBIX opened at $122.31 on Monday. The stock has a fifty day simple moving average of $140.13 and a 200-day simple moving average of $138.50. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The stock has a market capitalization of $12.31 billion, a PE ratio of 33.69 and a beta of 0.37.

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

Insider Buying and Selling

In other news, Director Gary A. Lyons sold 930 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the sale, the director now directly owns 119,047 shares of the company’s stock, valued at $17,860,621.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Gary A. Lyons sold 930 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the transaction, the director now owns 119,047 shares of the company’s stock, valued at $17,860,621.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Julie Cooke sold 900 shares of the stock in a transaction 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 sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock worth $10,676,096 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $26,000. 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 buying an additional 149 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences in the second quarter valued at approximately $28,000. Innealta Capital LLC acquired a new position in Neurocrine Biosciences during the second quarter worth $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in Neurocrine Biosciences in the first quarter worth $32,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.