Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Reaffirmed by Raymond James

by · The Markets Daily

Raymond James reaffirmed their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX – Free Report) in a report released on Thursday morning, MarketBeat.com reports. Raymond James currently has a $155.00 price target on the stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a sector perform rating on the stock in a report on Friday, October 4th. HC Wainwright reiterated a buy rating and set a $190.00 target price on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Oppenheimer raised their target price on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an outperform rating in a report on Friday, August 2nd. BMO Capital Markets dropped their target price on Neurocrine Biosciences from $142.00 to $128.00 and set a market perform rating on the stock in a report on Thursday, August 29th. Finally, Morgan Stanley raised their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an overweight rating in a report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $164.52.

Get Our Latest Stock Analysis on NBIX

Neurocrine Biosciences Trading Up 1.5 %

Shares of Neurocrine Biosciences stock traded up $1.66 during trading hours on Thursday, reaching $114.07. The stock had a trading volume of 38,960 shares, compared to its average volume of 849,738. The firm has a 50 day simple moving average of $129.62 and a two-hundred day simple moving average of $135.74. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 34.40 and a beta of 0.36. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. Sell-side analysts forecast that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Julie Cooke sold 900 shares of the business’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 transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,798 shares of company stock worth $9,274,196. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NBIX. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Neurocrine Biosciences by 3.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after acquiring an additional 150,485 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Neurocrine Biosciences by 70.1% during the 4th quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after purchasing an additional 111,552 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Neurocrine Biosciences by 1,325.5% during the 1st quarter. Van ECK Associates Corp now owns 92,243 shares of the company’s stock worth $12,722,000 after purchasing an additional 85,772 shares during the last quarter. Finally, Twin Tree Management LP lifted its position in shares of Neurocrine Biosciences by 59.4% during the 1st quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock worth $2,641,000 after purchasing an additional 7,136 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

(Get Free Report)

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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