Neurocrine Biosciences (NASDAQ:NBIX) Upgraded by StockNews.com to Strong-Buy Rating

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) was upgraded by equities researchers at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Monday.

NBIX has been the subject of several other reports. Piper Sandler reiterated an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Neurocrine Biosciences in a report on Friday. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price target on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, HC Wainwright dropped their target price on Neurocrine Biosciences from $190.00 to $185.00 and set a "buy" rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $168.35.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded down $3.81 during trading hours on Monday, hitting $118.81. 2,729,808 shares of the stock were exchanged, compared to its average volume of 1,264,219. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The stock has a market capitalization of $12.03 billion, a P/E ratio of 36.11 and a beta of 0.33. The business's 50-day moving average is $138.81 and its two-hundred day moving average is $131.42.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. On average, equities analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 2,331 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares of the company's stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock worth $32,718,279 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caprock Group LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $236,000. Plato Investment Management Ltd boosted its stake in Neurocrine Biosciences by 2,481.9% during the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company's stock worth $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank grew its holdings in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company's stock worth $34,416,000 after buying an additional 4,100 shares during the last quarter. Tri Ri Asset Management Corp purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $3,236,000. Finally, KBC Group NV increased its stake in Neurocrine Biosciences by 78.3% in the 3rd quarter. KBC Group NV now owns 18,972 shares of the company's stock valued at $2,186,000 after buying an additional 8,332 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.

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