Other equities analysts have also issued reports about the company. TheStreet raised Neurocrine Biosciences from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. SVB Securities raised Neurocrine Biosciences from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $125.00 in a report on Monday, July 24th. Robert W. Baird increased their price target on shares of Neurocrine Biosciences from $140.00 to $148.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reduced their price objective on shares of Neurocrine Biosciences from $145.00 to $125.00 in a research note on Tuesday, June 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $130.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.96.
Neurocrine Biosciences Stock Up 1.6 %
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $452.70 million for the quarter, compared to analysts’ expectations of $448.29 million. Neurocrine Biosciences had a net margin of 10.54% and a return on equity of 10.39%. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 2.17 EPS for the current year.
Insider Activity at Neurocrine Biosciences
In other Neurocrine Biosciences news, insider David W. Boyer sold 2,733 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $107.60, for a total value of $294,070.80. Following the completion of the sale, the insider now directly owns 3,460 shares of the company’s stock, valued at $372,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jude Onyia sold 3,198 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $107.37, for a total transaction of $343,369.26. Following the completion of the sale, the insider now directly owns 9,638 shares in the company, valued at $1,034,832.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David W. Boyer sold 2,733 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $107.60, for a total transaction of $294,070.80. Following the sale, the insider now directly owns 3,460 shares in the company, valued at approximately $372,296. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,822 shares of company stock valued at $2,022,084. Insiders own 4.60% of the company’s stock.
Institutional Trading of Neurocrine Biosciences
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp lifted its position in Neurocrine Biosciences by 10.4% during the second quarter. Alberta Investment Management Corp now owns 82,795 shares of the company’s stock valued at $7,808,000 after buying an additional 7,777 shares during the period. Virginia Retirement Systems ET AL purchased a new position in Neurocrine Biosciences during the 2nd quarter valued at about $13,581,000. Comerica Bank bought a new stake in Neurocrine Biosciences during the second quarter worth about $17,110,000. Teachers Retirement System of The State of Kentucky grew its holdings in Neurocrine Biosciences by 6.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 49,943 shares of the company’s stock worth $4,710,000 after purchasing an additional 3,245 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Neurocrine Biosciences by 33.0% during the second quarter. Nuveen Asset Management LLC now owns 324,174 shares of the company’s stock valued at $30,570,000 after purchasing an additional 80,416 shares in the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.
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