William Blair Reiterates “Outperform” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

William Blair reissued their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Friday,RTT News reports.

A number of other research firms also recently issued reports on NBIX. UBS Group raised their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. HC Wainwright cut their price target on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Raymond James reissued an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Finally, Bank of America reduced their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.81.

Neurocrine Biosciences Stock Performance

NBIX opened at $122.62 on Friday. The company’s 50-day simple moving average is $138.89 and its two-hundred day simple moving average is $131.77. The stock has a market capitalization of $12.42 billion, a P/E ratio of 37.27 and a beta of 0.33. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock valued at $32,718,279 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $236,000. Plato Investment Management Ltd lifted its position in Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the last quarter. Swiss National Bank lifted its position in Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares during the last quarter. Tri Ri Asset Management Corp purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth $3,236,000. Finally, KBC Group NV increased its holdings in shares of Neurocrine Biosciences by 78.3% in the 3rd quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after buying an additional 8,332 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.