Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Upgraded by StockNews.com

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

A number of other research firms have also recently commented on NBIX. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Barclays increased their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, Guggenheim lowered their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.24.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $108.99 on Wednesday. Neurocrine Biosciences has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The stock has a 50 day moving average price of $130.23 and a two-hundred day moving average price of $126.17. The company has a market capitalization of $10.87 billion, a P/E ratio of 33.13, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, equities analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has approved a share buyback program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 234,269 shares of company stock worth $34,053,879. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in NBIX. OneDigital Investment Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock valued at $575,000 after buying an additional 87 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company’s stock valued at $334,000 after purchasing an additional 96 shares in the last quarter. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after acquiring an additional 100 shares during the last quarter. Finally, Utah Retirement Systems lifted its position in Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company’s stock worth $2,264,000 after acquiring an additional 100 shares during 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.