Neurocrine Biosciences (NASDAQ:NBIX) Lifted to Overweight at Piper Sandler

Piper Sandler upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a neutral rating to an overweight rating in a research note published on Thursday morning, MarketBeat.com reports. Piper Sandler currently has $159.00 target price on the stock, up from their previous target price of $131.00.

A number of other analysts also recently weighed in on NBIX. Morgan Stanley boosted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an overweight rating in a report on Friday, July 12th. UBS Group raised their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a buy rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Sunday, August 4th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $163.00.

Neurocrine Biosciences Trading Down 1.1 %

NASDAQ:NBIX opened at $127.06 on Thursday. The business’s 50-day moving average is $143.93 and its 200 day moving average is $139.43. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98. The company has a market capitalization of $12.83 billion, a P/E ratio of 35.00 and a beta of 0.37.

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

Insider Buying and Selling

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,789,638.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 14,100 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The disclosure for this sale can be found here. Insiders sold 71,798 shares of company stock valued at $10,676,096 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Neurocrine Biosciences by 7,880.3% during the fourth quarter. International Assets Investment Management LLC now owns 5,666 shares of the company’s stock worth $747,000 after purchasing an additional 5,595 shares during the last quarter. CWM LLC raised its holdings in Neurocrine Biosciences by 41.6% in the 4th quarter. CWM LLC now owns 2,902 shares of the company’s stock worth $382,000 after purchasing an additional 853 shares during the period. Truist Financial Corp raised its stake in shares of Neurocrine Biosciences by 4.0% during the 4th quarter. Truist Financial Corp now owns 37,195 shares of the company’s stock worth $4,901,000 after buying an additional 1,423 shares during the period. Certuity LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $415,000. Finally, Victory Capital Management Inc. lifted its stake in Neurocrine Biosciences by 67.9% in the 4th quarter. Victory Capital Management Inc. now owns 117,221 shares of the company’s stock valued at $15,445,000 after buying an additional 47,389 shares in the last quarter. 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.