Neurocrine Biosciences’ (NBIX) “Outperform” Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Friday,RTT News reports.

A number of other analysts also recently commented on NBIX. Piper Sandler restated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. UBS Group increased their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Finally, BMO Capital Markets dropped their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Neurocrine Biosciences Price Performance

NBIX stock opened at $122.62 on Friday. The company’s 50 day simple moving average is $138.81 and its 200-day simple moving average is $131.52. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The firm has a market capitalization of $12.41 billion, a PE ratio of 37.27 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now directly owns 2,507 shares in the company, valued at approximately $338,445. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock valued at $32,718,279 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Raymond James Financial Inc. acquired a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $115,193,000. State Street Corp grew its holdings in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares during the period. Jennison Associates LLC increased its position in shares of Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after buying an additional 485,894 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after buying an additional 363,863 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in Neurocrine Biosciences by 207.8% during the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after acquiring an additional 176,599 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.