Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Up 6.1% – Here’s What Happened

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) shares were up 6.1% during trading on Wednesday . The company traded as high as $152.91 and last traded at $152.3350. Approximately 269,713 shares traded hands during trading, a decline of 77% from the average daily volume of 1,159,367 shares. The stock had previously closed at $143.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Wall Street Zen upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Finally, Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.53.

Neurocrine Biosciences Stock Up 5.7%

The company has a market cap of $15.12 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 0.94 and a beta of 0.22. The stock has a fifty day moving average price of $142.44 and a two-hundred day moving average price of $134.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter in the prior year, the business earned $1.81 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. The trade was a 30.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of NBIX. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank bought a new position in shares of Neurocrine Biosciences in the third quarter valued at approximately $27,000. WPG Advisers LLC purchased a new position in Neurocrine Biosciences in the first quarter worth $32,000. Finally, Quent Capital LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.