Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $169.00 to $173.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and raised their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, April 24th. Canaccord Genuity Group boosted their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a buy rating in a report on Thursday, May 2nd. Barclays raised their target price on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Finally, Oppenheimer boosted their price target on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of Moderate Buy and a consensus price target of $152.96.

Neurocrine Biosciences Stock Up 1.1 %

Neurocrine Biosciences stock opened at $145.69 on Friday. The company’s 50-day moving average price is $138.59 and its two-hundred day moving average price is $137.52. The stock has a market cap of $14.66 billion, a P/E ratio of 40.13 and a beta of 0.37. Neurocrine Biosciences has a twelve month low of $96.67 and a twelve month high of $150.39.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.62). The firm had revenue of $515.30 million during the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Equities analysts anticipate that Neurocrine Biosciences will post 4.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,055,108.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,055,108.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie Cooke sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The disclosure for this sale can be found here. Insiders sold a total of 80,709 shares of company stock worth $11,009,150 in the last three months. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently modified their holdings of the business. Portman Square Capital LLP lifted its holdings in Neurocrine Biosciences by 117.2% during the 2nd quarter. Portman Square Capital LLP now owns 10,457 shares of the company’s stock worth $1,440,000 after buying an additional 71,200 shares during the period. Stanley Laman Group Ltd. bought a new position in shares of Neurocrine Biosciences during the second quarter worth about $3,778,000. 17 Capital Partners LLC acquired a new position in shares of Neurocrine Biosciences in the second quarter worth approximately $408,000. LA Financiere DE L Echiquier boosted its holdings in Neurocrine Biosciences by 948.3% in the second quarter. LA Financiere DE L Echiquier now owns 22,015 shares of the company’s stock valued at $3,031,000 after acquiring an additional 19,915 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Neurocrine Biosciences by 6.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company’s stock valued at $373,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds 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.