Neurocrine Biosciences (NASDAQ:NBIX) Receives “Equal Weight” Rating from Morgan Stanley

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Morgan Stanley in a research note issued to investors on Thursday,Benzinga reports. They presently have a $175.00 target price on the stock, up from their previous target price of $173.00. Morgan Stanley’s price target would suggest a potential upside of 24.45% from the stock’s current price.

Several other research firms have also recently commented on NBIX. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Mizuho upped their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Finally, Needham & Company LLC boosted their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.35.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $140.62 on Thursday. The stock has a market capitalization of $14.02 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 0.67 and a beta of 0.28. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $160.18. The stock has a fifty day moving average of $146.56 and a 200-day moving average of $139.61.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. Neurocrine Biosciences’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 earnings per share. Equities research analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the sale, the insider owned 43,405 shares in the company, valued at $6,929,608.25. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Morrow sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 43,866 shares of company stock worth $6,570,237 in the last quarter. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. AlTi Global Inc. boosted its stake in shares of Neurocrine Biosciences by 1.0% in the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after purchasing an additional 70 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after buying an additional 77 shares during the period. Diametric Capital LP boosted its position in Neurocrine Biosciences by 2.6% during the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock valued at $408,000 after acquiring an additional 81 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in Neurocrine Biosciences by 2.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after acquiring an additional 84 shares during the period. Finally, IFP Advisors Inc grew its holdings in Neurocrine Biosciences by 4.2% during the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock worth $273,000 after acquiring an additional 88 shares during the period. 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.