Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Neurocrine Biosciences has received a rating upgrade from Wall Street Zen, moving from a "hold" to a "strong-buy" rating.
• As of the last earnings report, the company reported $1.06 earnings per share, exceeding expectations and showing a year-over-year revenue increase of 16.5%.
• The average target price set by analysts for Neurocrine Biosciences is $164.00, with a consensus rating of "Moderate Buy".

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on the company. Truist Financial started coverage on Neurocrine Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $163.00 price target for the company. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Piper Sandler increased their price target on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday. HC Wainwright cut their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus raised their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.90.

Neurocrine Biosciences Stock Up 0.5%

NASDAQ NBIX traded up $0.68 on Friday, reaching $128.91. The company had a trading volume of 1,395,006 shares, compared to its average volume of 970,956. The stock has a market capitalization of $12.79 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.11 and a beta of 0.25. The company's fifty day moving average is $128.26 and its 200 day moving average is $120.88. Neurocrine Biosciences has a 52-week low of $84.23 and a 52-week high of $157.40.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The business had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. During the same period in the prior year, the firm posted $1.63 EPS. Neurocrine Biosciences's quarterly revenue was up 16.5% compared to the same quarter last year. On average, research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Activity

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director owned 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,251 shares of company stock worth $14,978,602 over the last ninety days. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently added to or reduced their stakes in the stock. Motley Fool Asset Management LLC increased its position in Neurocrine Biosciences by 8.5% during the second quarter. Motley Fool Asset Management LLC now owns 2,667 shares of the company's stock valued at $335,000 after acquiring an additional 209 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 61.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company's stock valued at $24,891,000 after purchasing an additional 75,733 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 15.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,195 shares of the company's stock valued at $2,036,000 after purchasing an additional 2,202 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $351,000. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of Neurocrine Biosciences by 1.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,699 shares of the company's stock worth $842,000 after acquiring an additional 96 shares during the last quarter. 92.59% of the stock is owned by 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.