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

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

NBIX has been the topic of several other research reports. Royal Bank of Canada dropped their price target 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. BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Wedbush dropped their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Trading Down 1.6 %

Shares of NBIX stock opened at $116.85 on Monday. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The firm’s 50 day moving average is $138.66 and its 200 day moving average is $131.23. The stock has a market capitalization of $11.83 billion, a P/E ratio of 35.52 and a beta of 0.33.

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

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,740 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the sale, the insider now directly owns 18,202 shares in the company, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,693 shares of company stock worth $32,718,279. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently made changes to their positions in NBIX. Raymond James Financial Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $115,193,000. Thrivent Financial for Lutherans boosted its stake in shares of Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares during the period. State Street Corp boosted its stake in shares of Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares during the period. Jennison Associates LLC boosted its stake in shares of Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares during the period. 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.