Neurocrine Biosciences (NASDAQ:NBIX) Upgraded at Zacks Research

Zacks Research upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Wolfe Research started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Wedbush lifted their price objective on Neurocrine Biosciences from $151.00 to $166.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Finally, BMO Capital Markets reduced their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Neurocrine Biosciences Stock Up 3.8%

Shares of NBIX opened at $133.25 on Wednesday. The business’s 50-day moving average price is $130.30 and its 200-day moving average price is $138.23. Neurocrine Biosciences has a twelve month low of $98.95 and a twelve month high of $160.18. The stock has a market cap of $13.40 billion, a PE ratio of 28.59, a P/E/G ratio of 0.67 and a beta of 0.35.

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

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. AlTi Global Inc. increased its stake in Neurocrine Biosciences by 1.0% in the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after acquiring an additional 70 shares during the last quarter. Huntington National Bank lifted its stake in Neurocrine Biosciences by 12.6% during the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Neurocrine Biosciences by 0.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after purchasing an additional 77 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 3.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares in the last quarter. 92.59% of the stock is owned by 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.