Neurocrine Biosciences (NASDAQ:NBIX) Now Covered by Truist Financial

Truist Financial started coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX - Free Report) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $163.00 price objective on the stock.

NBIX has been the topic of a number of other research reports. Wedbush restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Evercore ISI decreased their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. HC Wainwright decreased their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group upped their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Needham & Company LLC upped their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.87.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded down $0.19 during trading on Monday, hitting $131.83. 470,113 shares of the stock were exchanged, compared to its average volume of 1,146,710. The stock's fifty day moving average is $126.07 and its 200 day moving average is $121.21. The stock has a market cap of $13.05 billion, a PE ratio of 44.69, a P/E/G ratio of 1.35 and a beta of 0.24. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period in the previous year, the company earned $1.20 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider directly owned 18,289 shares in the company, valued at $2,385,982.94. This represents a 76.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction 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 sale, the insider owned 4,730 shares of the company's stock, 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. In the last 90 days, insiders sold 120,251 shares of company stock valued at $14,978,602. Company insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. Avantax Advisory Services Inc. grew its stake in Neurocrine Biosciences by 11.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after purchasing an additional 297 shares during the period. Corient Private Wealth LLC raised its stake in shares of Neurocrine Biosciences by 64.0% in the fourth quarter. Corient Private Wealth LLC now owns 7,927 shares of the company's stock valued at $1,082,000 after buying an additional 3,094 shares during the period. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Neurocrine Biosciences by 5.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company's stock valued at $689,000 after buying an additional 245 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after buying an additional 214 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Neurocrine Biosciences by 31.7% in the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock valued at $117,000 after buying an additional 254 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.