Neurocrine Biosciences (NASDAQ:NBIX) Receives "Hold (C+)" Rating from Weiss Ratings

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report)'s stock had its "hold (c+)" rating restated by stock analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

Several other analysts have also issued reports on NBIX. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $163.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, October 20th. Stifel Nicolaus upped their target price on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Truist Financial began coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $164.32.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $144.00 on Friday. The firm has a market capitalization of $14.28 billion, a PE ratio of 42.60, a P/E/G ratio of 0.98 and a beta of 0.21. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $154.61. The company's 50 day simple moving average is $139.94 and its 200 day simple moving average is $127.79.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. During the same quarter last year, the business posted $1.63 EPS. The company's revenue was up 16.5% on a year-over-year basis. Sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of the business. Dodge & Cox raised its position in Neurocrine Biosciences by 0.6% in the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company's stock worth $699,693,000 after buying an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. raised its position in Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company's stock worth $535,659,000 after buying an additional 1,590,749 shares during the last quarter. Wellington Management Group LLP raised its position in Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock worth $232,037,000 after buying an additional 640,556 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Neurocrine Biosciences by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock worth $170,281,000 after buying an additional 49,088 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Neurocrine Biosciences by 40.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company's stock worth $189,794,000 after buying an additional 435,385 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

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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