Neurocrine Biosciences (NASDAQ:NBIX) Shares Gap Up - Should You Buy?

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $116.19, but opened at $126.46. Neurocrine Biosciences shares last traded at $130.41, with a volume of 543,102 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, August 29th. BMO Capital Markets cut their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Thursday, October 17th. Citigroup raised their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, Barclays decreased their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, September 9th. Five 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $163.91.

Neurocrine Biosciences Stock Up 7.5 %

The business has a fifty day simple moving average of $121.55 and a 200-day simple moving average of $133.71. The firm has a market cap of $12.61 billion, a P/E ratio of 39.40 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million during the quarter, compared to analysts' expectations of $545.98 million. During the same quarter last year, the business earned $0.95 earnings per share. The business's quarterly revenue was up 30.4% on a year-over-year basis. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.37 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences 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 directly owns 18,202 shares of the company's stock, valued at $2,789,638.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the sale, the insider now owns 6,607 shares of the company's stock, valued at approximately $975,853.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,789,638.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,968 shares of company stock valued at $8,999,632. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. RFP Financial Group LLC boosted its stake in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company's stock worth $26,000 after buying an additional 149 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at about $28,000. Innealta Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the second quarter valued at about $30,000. New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences during the first quarter worth about $32,000. Finally, EdgeRock Capital LLC purchased a new position in Neurocrine Biosciences during the second quarter worth about $35,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

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.

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