Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Upgraded by Zacks Investment Research

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $115.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 3.82% from the company’s previous close.

According to Zacks, “Neurocrine Biosciences is a neuroscience-based company focused on the discovery and development of novel therapeutics for neuropsychiatric, neuroinflammatory and neurodegenerative diseases and disorders. The company’s neuroscience, endocrine and immunology disciplines provide a unique biological understanding of the molecular interaction between central nervous, immune and endocrine systems for the development of therapeutic interventions for anxiety, depression, insomnia, stroke, malignant brain tumors, multiple sclerosis, obesity and diabetes. “

Several other equities research analysts have also recently weighed in on NBIX. Credit Suisse Group increased their target price on Neurocrine Biosciences from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, July 31st. Royal Bank of Canada set a $118.00 target price on Neurocrine Biosciences and gave the company a “buy” rating in a report on Friday, September 6th. CIBC started coverage on Neurocrine Biosciences in a report on Tuesday, July 16th. They set an “outperform” rating and a $100.00 target price for the company. Finally, BidaskClub cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $106.94.

Shares of NASDAQ:NBIX traded up $7.61 during midday trading on Thursday, reaching $110.77. 1,585,800 shares of the company traded hands, compared to its average volume of 802,086. The company has a quick ratio of 7.32, a current ratio of 7.08 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 503.50, a price-to-earnings-growth ratio of 6.41 and a beta of 1.20. The firm’s fifty day moving average price is $95.60 and its two-hundred day moving average price is $89.48. Neurocrine Biosciences has a 12 month low of $64.72 and a 12 month high of $111.08.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.07). The firm had revenue of $222.09 million for the quarter, compared to the consensus estimate of $211.31 million. Neurocrine Biosciences had a net margin of 3.12% and a return on equity of 5.67%. Neurocrine Biosciences’s revenue for the quarter was up 46.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Analysts forecast that Neurocrine Biosciences will post 0.82 earnings per share for the current year.

In other news, insider Dimitri E. Grigoriadis sold 10,188 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.34, for a total value of $1,022,263.92. Following the completion of the transaction, the insider now owns 118,596 shares in the company, valued at approximately $11,899,922.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary A. Lyons sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.22, for a total value of $501,100.00. Following the completion of the transaction, the director now owns 230,697 shares of the company’s stock, valued at approximately $23,120,453.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,795 shares of company stock valued at $3,681,988. Company insiders own 4.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Evolution Wealth Advisors LLC purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $40,000. Capital Investment Advisory Services LLC bought a new position in Neurocrine Biosciences during the 2nd quarter valued at approximately $43,000. NEXT Financial Group Inc increased its position in Neurocrine Biosciences by 89.8% during the 2nd quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after buying an additional 265 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Neurocrine Biosciences by 70.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 595 shares of the company’s stock valued at $51,000 after buying an additional 246 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Neurocrine Biosciences during the 3rd quarter valued at approximately $67,000. Institutional investors own 96.07% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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