Neurocrine Biosciences (NASDAQ:NBIX) Earns “Outperform” Rating from Raymond James

Raymond James reissued their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Thursday, Marketbeat Ratings reports. They currently have a $155.00 target price on the stock.

Other analysts have also issued reports about the stock. Guggenheim boosted their target price on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a buy rating in a research report on Friday, August 2nd. Piper Sandler upgraded shares of Neurocrine Biosciences from a neutral rating to an overweight rating and upped their price target for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an overweight rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Monday, September 16th. HC Wainwright reiterated a buy rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Finally, Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an overweight rating in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $164.52.

Neurocrine Biosciences Stock Up 2.7 %

NBIX opened at $115.49 on Thursday. The firm has a 50 day moving average price of $128.87 and a 200-day moving average price of $135.56. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 31.82 and a beta of 0.36. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, analysts expect that Neurocrine Biosciences will post 4.19 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Ingrid Delaet sold 7,143 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total value of $1,072,164.30. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $376,300.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,798 shares of company stock valued at $9,274,196 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Neurocrine Biosciences in the first quarter valued at $26,000. RFP Financial Group LLC raised its stake in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth about $28,000. Innealta Capital LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth about $30,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.