Neurocrine Biosciences (NASDAQ:NBIX) Shares Gap Up to $133.66

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) gapped up before the market opened on Tuesday . The stock had previously closed at $133.66, but opened at $141.00. Neurocrine Biosciences shares last traded at $141.02, with a volume of 432,096 shares changing hands.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Neurocrine Biosciences from $127.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday. Finally, Mizuho lifted their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.67.

Neurocrine Biosciences Trading Up 4.7 %

The company has a market cap of $13.93 billion, a P/E ratio of 55.23 and a beta of 0.25. The company’s fifty day moving average is $136.21 and its 200 day moving average is $127.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.84 EPS for the current year.

Insider Activity

In related news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the sale, the chief executive officer now directly owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total transaction of $205,131.03. Following the sale, the insider now directly owns 20,832 shares in the company, valued at approximately $2,932,937.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,994 shares of company stock valued at $25,806,409. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently modified their holdings of the company. Mather Group LLC. bought a new position in Neurocrine Biosciences in the 1st quarter worth $26,000. Headinvest LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth about $28,000. Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $31,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $33,000. 92.59% of the stock is currently owned by institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.