StockNews.com Begins Coverage on Neurocrine Biosciences (NASDAQ:NBIX)

StockNews.com initiated coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) in a research report report published on Thursday morning. The firm issued a strong-buy rating on the stock.

NBIX has been the subject of a number of other reports. Royal Bank of Canada decreased their price objective on shares of Neurocrine Biosciences from $122.00 to $110.00 and set a sector perform rating for the company in a report on Tuesday, February 7th. Citigroup decreased their price objective on shares of Neurocrine Biosciences from $133.00 to $131.00 and set a buy rating for the company in a report on Tuesday, February 7th. Wells Fargo & Company decreased their price objective on shares of Neurocrine Biosciences from $120.00 to $115.00 and set an equal weight rating for the company in a report on Tuesday, February 7th. Barclays decreased their price objective on shares of Neurocrine Biosciences from $136.00 to $131.00 and set an overweight rating for the company in a report on Tuesday, February 7th. Finally, Piper Sandler decreased their target price on shares of Neurocrine Biosciences from $103.00 to $95.00 and set a neutral rating for the company in a research note on Tuesday, February 7th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $125.65.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $94.25 on Thursday. The firm has a 50 day moving average price of $104.10 and a 200-day moving average price of $110.74. Neurocrine Biosciences has a 52-week low of $75.25 and a 52-week high of $129.29. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 61.60 and a beta of 0.50.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. Neurocrine Biosciences had a net margin of 10.38% and a return on equity of 10.19%. The company had revenue of $412.00 million during the quarter, compared to analyst estimates of $408.96 million. During the same period in the previous year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eric Benevich sold 400 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $125.00, for a total transaction of $50,000.00. Following the completion of the sale, the insider now owns 15,643 shares of the company’s stock, valued at approximately $1,955,375. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Eric Benevich sold 400 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $125.00, for a total transaction of $50,000.00. Following the completion of the sale, the insider now owns 15,643 shares of the company’s stock, valued at approximately $1,955,375. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen A. Sherwin sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $118.86, for a total transaction of $3,565,800.00. Following the sale, the director now directly owns 25,055 shares of the company’s stock, valued at approximately $2,978,037.30. The disclosure for this sale can be found here. Insiders sold a total of 69,749 shares of company stock valued at $7,706,823 in the last 90 days. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Neurocrine Biosciences by 15.8% in the 4th quarter. Victory Capital Management Inc. now owns 113,338 shares of the company’s stock worth $13,537,000 after buying an additional 15,478 shares during the period. Voya Investment Management LLC boosted its holdings in Neurocrine Biosciences by 29.4% in the 4th quarter. Voya Investment Management LLC now owns 161,811 shares of the company’s stock worth $19,327,000 after buying an additional 36,761 shares during the period. Natixis bought a new position in Neurocrine Biosciences in the 4th quarter worth $5,333,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Neurocrine Biosciences by 81.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 42,812 shares of the company’s stock worth $5,113,000 after buying an additional 19,224 shares during the period. Finally, Wallace Advisory Group LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth $203,000. Institutional investors own 92.58% of the company’s stock.

About Neurocrine Biosciences

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Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.