Neurocrine Biosciences’ (NBIX) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $198.00 price target on the stock.

NBIX has been the topic of a number of other reports. Wedbush lifted their price objective on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Truist Financial increased their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.05.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $156.57 on Tuesday. Neurocrine Biosciences has a 1-year low of $122.14 and a 1-year high of $186.12. The company’s fifty day simple moving average is $164.82 and its 200-day simple moving average is $151.22. The stock has a market capitalization of $15.92 billion, a PE ratio of 22.96, a P/E/G ratio of 0.73 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.Neurocrine Biosciences’s revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. As a group, research analysts anticipate that Neurocrine Biosciences will post 7.25 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the sale, the insider directly owned 54,729 shares in the company, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director directly owned 1,588 shares of the company’s stock, valued at $289,031.88. This trade represents a 44.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 40,188 shares of company stock valued at $7,118,633. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. DJE Kapital AG purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at $28,000. Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the last quarter. Basecamp Wealth Advisors LLC grew its position in Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring 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 approximately $33,000. 92.59% of the stock is currently owned by institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.