Neurocrine Biosciences (NASDAQ:NBIX) Upgraded at StockNews.com

StockNews.com upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a strong-buy rating in a report issued on Sunday.

Other research analysts also recently issued reports about the company. Oppenheimer upped their price target on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an outperform rating in a report on Friday, August 2nd. Barclays raised their price target on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the company an overweight rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Neurocrine Biosciences from $136.00 to $143.00 and gave the stock a sector perform rating in a research note on Friday, August 2nd. Robert W. Baird increased their price objective on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Finally, Morgan Stanley boosted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an overweight rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $158.36.

Neurocrine Biosciences Stock Down 1.4 %

Neurocrine Biosciences stock opened at $145.63 on Friday. The stock’s 50 day moving average is $139.98 and its 200 day moving average is $138.54. Neurocrine Biosciences has a twelve month low of $100.52 and a twelve month high of $157.98. The company has a market capitalization of $14.66 billion, a P/E ratio of 40.12 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the prior year, the firm earned $0.95 EPS. Neurocrine Biosciences’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,789,638.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,421,486.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Julie Cooke sold 12,632 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. The disclosure for this sale can be found here. Insiders sold 93,068 shares of company stock worth $12,906,761 in the last three months. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Norges Bank bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $35,731,000. abrdn plc lifted its stake in shares of Neurocrine Biosciences by 2,503.0% during the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after acquiring an additional 80,420 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Neurocrine Biosciences by 18.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after acquiring an additional 18,070 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after acquiring an additional 8,630 shares during the period. Finally, HealthInvest Partners AB bought a new position in Neurocrine Biosciences in the 4th quarter valued at $1,662,000. 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.