Neurocrine Biosciences (NASDAQ:NBIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

NBIX has been the topic of a number of other research reports. Weiss Ratings raised shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Wedbush lifted their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Finally, Guggenheim upped their price objective on shares of Neurocrine Biosciences from $207.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.32.

Neurocrine Biosciences Stock Up 2.6%

Shares of Neurocrine Biosciences stock opened at $168.86 on Friday. Neurocrine Biosciences has a 52 week low of $122.14 and a 52 week high of $186.12. The business’s fifty day simple moving average is $147.51 and its 200-day simple moving average is $148.22. The firm has a market cap of $17.09 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, November 2nd. The company reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $1.38. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Neurocrine Biosciences had a return on equity of 23.39% and a net margin of 18.98%. The company’s revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.04 EPS. As a group, equities analysts expect that Neurocrine Biosciences will post 8.41 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In related news, Director George Morrow sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $166.37, for a total transaction of $1,197,864.00. Following the completion of the transaction, the director directly owned 10,386 shares in the company, valued at $1,727,918.82. This trade represents a 40.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Abernethy sold 2,311 shares of Neurocrine Biosciences stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This represents a 5.12% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 18,137 shares of company stock worth $2,829,332. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Neurocrine Biosciences in the second quarter valued at approximately $2,310,886,000. Aberdeen Group plc increased its stake in Neurocrine Biosciences by 5,055.5% during the 3rd quarter. Aberdeen Group plc now owns 1,183,444 shares of the company’s stock worth $167,860,000 after buying an additional 1,160,489 shares during the period. Bank of New York Mellon Corp acquired a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $117,827,000. Ieq Capital LLC acquired a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $107,914,000. Finally, Bank of America Corp DE acquired a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $104,382,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.

Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.

Neurocrine primarily serves the U.S.