Neurocrine Biosciences (NASDAQ:NBIX) Hits New 52-Week High Following Analyst Upgrade

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) shares reached a new 52-week high on Monday after Royal Bank Of Canada raised their price target on the stock from $160.00 to $180.00. Royal Bank Of Canada currently has an outperform rating on the stock. Neurocrine Biosciences traded as high as $159.00 and last traded at $159.22, with a volume of 111956 shares changing hands. The stock had previously closed at $155.51.

NBIX has been the subject of a number of other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Truist Financial reissued a “buy” rating and issued a $172.00 price target (up previously from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley decreased their target price on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, TD Cowen boosted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the transaction, the director directly owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 18,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director owned 40,360 shares in the company, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 33,300 shares of company stock worth $4,925,901. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently modified their holdings of NBIX. Charles Schwab Investment Management Inc. grew its holdings in Neurocrine Biosciences by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 775,773 shares of the company’s stock valued at $85,800,000 after buying an additional 13,216 shares in the last quarter. Nuveen LLC purchased a new position in Neurocrine Biosciences in the 1st quarter worth about $31,686,000. Motley Fool Asset Management LLC raised its stake in shares of Neurocrine Biosciences by 9.3% during the first quarter. Motley Fool Asset Management LLC now owns 2,458 shares of the company’s stock valued at $272,000 after acquiring an additional 209 shares in the last quarter. AIA Group Ltd grew its position in shares of Neurocrine Biosciences by 13.5% during the 1st quarter. AIA Group Ltd now owns 1,931 shares of the company’s stock worth $214,000 after buying an additional 230 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its position in Neurocrine Biosciences by 2.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 50,967 shares of the company’s stock valued at $5,648,000 after purchasing an additional 1,129 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Up 0.0%

The business’s 50 day moving average is $144.31 and its 200 day moving average is $136.65. The company has a market cap of $15.46 billion, a P/E ratio of 37.09, a P/E/G ratio of 1.02 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 earnings per share. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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.