Neurocrine Biosciences (NASDAQ:NBIX) Upgraded by Zacks Research to Strong-Buy Rating

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Morgan Stanley upped their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Guggenheim reiterated a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target on the stock. Finally, Truist Financial raised their price target on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $166.36 on Tuesday. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $169.57. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 0.64 and a beta of 0.40. The firm’s 50-day moving average is $150.58 and its 200-day moving average is $140.99.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. This represents a 62.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 355,234 shares of company stock worth $55,330,060. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of the company. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Neurocrine Biosciences during the first quarter worth $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.