Neurocrine Biosciences (NASDAQ:NBIX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX – Free Report) from a buy rating to a strong-buy rating in a research note published on Sunday.

Several other research analysts have also issued reports on NBIX. UBS Group lowered their target price on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. HC Wainwright lifted their price objective on Neurocrine Biosciences from $168.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Citigroup raised their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Needham & Company LLC upped their price objective on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $176.00.

Check Out Our Latest Stock Analysis on Neurocrine Biosciences

Neurocrine Biosciences Trading Down 1.4%

Neurocrine Biosciences stock opened at $137.65 on Friday. The stock has a 50-day moving average price of $141.68 and a two-hundred day moving average price of $140.61. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company has a market capitalization of $13.73 billion, a PE ratio of 32.93, a P/E/G ratio of 0.65 and a beta of 0.31.

Insider Buying and Selling

In other news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the transaction, the director owned 7,068 shares in the company, valued at $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,966 shares of company stock valued at $8,625,166. 4.30% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Neurocrine Biosciences by 36.7% in the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC boosted its position in Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC bought a new position in Neurocrine Biosciences during the first quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. boosted its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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