Neurocrine Biosciences (NASDAQ:NBIX) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a strong-buy rating in a research report released on Sunday.

NBIX has been the topic of a number of other research reports. TD Cowen raised their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. Stifel Nicolaus boosted their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Truist Financial dropped their target price on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Seventeen 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.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $175.10.

Neurocrine Biosciences Stock Down 0.7%

Shares of NASDAQ:NBIX opened at $132.39 on Friday. The company has a market capitalization of $13.20 billion, a P/E ratio of 31.67, a P/E/G ratio of 0.65 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’s fifty day simple moving average is $144.76 and its 200-day simple moving average is $140.03.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 earnings per share. On average, sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director directly owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Rastetter sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,866 shares of company stock worth $6,570,237 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently made changes to their positions in NBIX. Allspring Global Investments Holdings LLC raised its holdings in shares of Neurocrine Biosciences by 15.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 447,900 shares of the company’s stock worth $57,331,000 after buying an additional 60,094 shares in the last quarter. Assetmark Inc. raised its stake in Neurocrine Biosciences by 10.8% during the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after acquiring an additional 2,045 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Neurocrine Biosciences by 87.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock worth $15,732,000 after acquiring an additional 58,562 shares in the last quarter. Capital Fund Management S.A. lifted its holdings in shares of Neurocrine Biosciences by 15.9% in the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock worth $25,594,000 after acquiring an additional 27,987 shares during the last quarter. Finally, Saturn V Capital Management LP acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $7,313,000. Institutional investors own 92.59% of the company’s stock.

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.