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

Truist Financial started coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $163.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a “buy” rating and a $182.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Needham & Company LLC lifted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group raised 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. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $163.87.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $131.83 on Monday. The business’s fifty day moving average price is $126.07 and its 200 day moving average price is $121.21. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $157.98. The firm has a market capitalization 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 (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $587.06 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director owned 514,596 shares in the company, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,251 shares of company stock worth $14,978,602. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. lifted its holdings in shares of Neurocrine Biosciences by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock worth $395,000 after acquiring an additional 297 shares during the last quarter. Corient Private Wealth LLC increased its stake in Neurocrine Biosciences by 64.0% during the fourth quarter. Corient Private Wealth LLC now owns 7,927 shares of the company’s stock worth $1,082,000 after purchasing an additional 3,094 shares during the period. B. Metzler seel. Sohn & Co. AG raised its position in 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 worth $689,000 after acquiring an additional 245 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after purchasing an additional 214 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Neurocrine Biosciences by 31.7% during the 1st quarter. Fifth Third Bancorp now owns 1,056 shares of the company’s stock worth $117,000 after buying an additional 254 shares during the last quarter. 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.