Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning.

NBIX has been the subject of a number of other reports. Barclays boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Bank of America decreased their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group dropped their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Finally, Royal Bank of Canada lowered their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $117.18 on Monday. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The firm has a 50-day moving average of $138.49 and a 200 day moving average of $131.02. The stock has a market cap of $11.86 billion, a P/E ratio of 35.62 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. Research analysts expect that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 226,647 shares of company stock valued at $33,186,271. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HighPoint Advisor Group LLC boosted its position in shares of Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company’s stock valued at $334,000 after acquiring an additional 96 shares during the last quarter. Huntington National Bank increased its holdings in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after buying an additional 100 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Neurocrine Biosciences by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company’s stock valued at $3,052,000 after acquiring an additional 103 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock worth $348,000 after acquiring an additional 104 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.