Neurocrine Biosciences (NASDAQ:NBIX) Shares Up 8.5% Following Analyst Upgrade

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating)’s stock price shot up 8.5% during trading on Friday after Robert W. Baird raised their price target on the stock from $117.00 to $125.00. The company traded as high as $105.00 and last traded at $104.10. 18,050 shares were traded during mid-day trading, a decline of 97% from the average session volume of 559,134 shares. The stock had previously closed at $95.93.

A number of other equities research analysts also recently commented on NBIX. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Thursday, April 28th. Morgan Stanley upped their price objective on Neurocrine Biosciences from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. Finally, Barclays upped their price objective on Neurocrine Biosciences from $110.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.06.

Insider Activity

In other news, insider Julie Cooke sold 754 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $100.00, for a total transaction of $75,400.00. Following the transaction, the insider now owns 16,918 shares of the company’s stock, valued at $1,691,800. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Julie Cooke sold 754 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $100.00, for a total value of $75,400.00. Following the transaction, the insider now owns 16,918 shares of the company’s stock, valued at $1,691,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $76.30, for a total value of $1,144,500.00. Following the completion of the transaction, the director now directly owns 29,512 shares in the company, valued at approximately $2,251,765.60. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of the stock. Grandfield & Dodd LLC lifted its holdings in Neurocrine Biosciences by 0.9% during the second quarter. Grandfield & Dodd LLC now owns 13,927 shares of the company’s stock worth $1,360,000 after buying an additional 130 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 639 shares of the company’s stock valued at $59,000 after purchasing an additional 175 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Neurocrine Biosciences by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 26,582 shares of the company’s stock valued at $2,591,000 after purchasing an additional 175 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Neurocrine Biosciences by 1.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 18,645 shares of the company’s stock valued at $1,748,000 after purchasing an additional 182 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Neurocrine Biosciences by 37.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 699 shares of the company’s stock valued at $67,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Neurocrine Biosciences Stock Performance

The firm has a fifty day moving average price of $95.36 and a 200 day moving average price of $90.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.90 and a current ratio of 4.02. The stock has a market cap of $9.94 billion, a PE ratio of 144.50 and a beta of 0.58.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). Neurocrine Biosciences had a net margin of 5.91% and a return on equity of 5.30%. The business had revenue of $310.60 million for the quarter, compared to analysts’ expectations of $304.07 million. During the same quarter in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. Research analysts forecast that Neurocrine Biosciences, Inc. will post 1.93 earnings per share for the current fiscal year.

Neurocrine Biosciences Company Profile

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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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