Neurocrine Biosciences (NASDAQ:NBIX) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

NBIX has been the subject of several other research reports. Stifel Nicolaus lifted their target price on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. TD Cowen lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Citigroup boosted their target price on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Wedbush increased their target price on Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Wells Fargo & Company cut their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.05.

Neurocrine Biosciences Stock Up 0.1%

Shares of NBIX stock opened at $131.15 on Monday. The firm has a market cap of $13.16 billion, a P/E ratio of 28.14, a PEG ratio of 0.68 and a beta of 0.31. The company has a 50 day moving average of $136.38 and a 200-day moving average of $140.44. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same period last year, the company posted $1.69 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, equities analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the sale, the insider owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leslie V. Norwalk sold 5,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $152.23, for a total value of $761,150.00. Following the sale, the director owned 7,429 shares of the company’s stock, valued at $1,130,916.67. This represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 46,966 shares of company stock worth $6,474,616. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NBIX. MidFirst Bank purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $176,000. Pacer Advisors Inc. increased its position in shares of Neurocrine Biosciences by 121.6% in the fourth quarter. Pacer Advisors Inc. now owns 29,621 shares of the company’s stock valued at $4,201,000 after acquiring an additional 16,257 shares during the period. Kera Capital Partners Inc. raised its stake in shares of Neurocrine Biosciences by 26.3% during the fourth quarter. Kera Capital Partners Inc. now owns 2,188 shares of the company’s stock valued at $298,000 after acquiring an additional 455 shares during the last quarter. Virtu Financial LLC raised its stake in shares of Neurocrine Biosciences by 775.9% during the fourth quarter. Virtu Financial LLC now owns 15,389 shares of the company’s stock valued at $2,183,000 after acquiring an additional 13,632 shares during the last quarter. Finally, Wick Capital Partners LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $1,142,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.