Neurocrine Biosciences (NASDAQ:NBIX) Trading 9.4% Higher

Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Rating)’s stock price was up 9.4% during mid-day trading on Tuesday . The stock traded as high as $84.99 and last traded at $82.94. Approximately 8,312 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 814,355 shares. The stock had previously closed at $75.79.

Several research analysts have recently issued reports on NBIX shares. Morgan Stanley increased their price target on Neurocrine Biosciences from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, February 14th. HC Wainwright reissued a “buy” rating and set a $140.00 price objective on shares of Neurocrine Biosciences in a report on Monday, February 14th. Raymond James reiterated a “buy” rating and issued a $125.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 11th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Monday, April 4th. Finally, Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $112.13.

The company’s 50 day moving average price is $92.81 and its two-hundred day moving average price is $87.70. The firm has a market cap of $7.68 billion, a PE ratio of 115.65 and a beta of 0.70. The company has a current ratio of 4.02, a quick ratio of 3.83 and a debt-to-equity ratio of 0.27.

Neurocrine Biosciences (NASDAQ:NBIXGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.21). The business had revenue of $310.60 million for the quarter, compared to analysts’ expectations of $304.07 million. Neurocrine Biosciences had a return on equity of 5.30% and a net margin of 5.91%. The company’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 1.86 earnings per share for the current fiscal year.

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 300 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $95.00, for a total value of $28,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 10,728 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $94.93, for a total transaction of $1,018,409.04. Following the transaction, the director now owns 34,022 shares in the company, valued at $3,229,708.46. The disclosure for this sale can be found here. Insiders have sold a total of 34,483 shares of company stock worth $3,241,957 in the last quarter. Corporate insiders own 4.40% of the company’s stock.

A number of large investors have recently bought and sold shares of NBIX. Advisor Group Holdings Inc. lifted its position in Neurocrine Biosciences by 10.2% during the third quarter. Advisor Group Holdings Inc. now owns 10,300 shares of the company’s stock valued at $990,000 after acquiring an additional 953 shares during the last quarter. Truist Financial Corp increased its stake in Neurocrine Biosciences by 4.1% during the 3rd quarter. Truist Financial Corp now owns 45,276 shares of the company’s stock valued at $4,343,000 after purchasing an additional 1,771 shares in the last quarter. Moors & Cabot Inc. acquired a new position in Neurocrine Biosciences during the 3rd quarter valued at approximately $30,000. Russell Investments Group Ltd. increased its stake in Neurocrine Biosciences by 56.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 34,223 shares of the company’s stock valued at $3,278,000 after purchasing an additional 12,369 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Neurocrine Biosciences by 460.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 504 shares of the company’s stock valued at $48,000 after purchasing an additional 414 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

About Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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