Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $106.00 price objective on the stock, up from their previous price objective of $100.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 31.33% from the company’s previous close.
Several other analysts also recently weighed in on NBIX. Zacks Investment Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a report on Wednesday, April 10th. ValuEngine downgraded shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. BidaskClub raised shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Evercore ISI began coverage on shares of Neurocrine Biosciences in a report on Thursday, April 11th. They issued an “outperform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Neurocrine Biosciences in a report on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $103.79.
Shares of NASDAQ:NBIX opened at $80.71 on Monday. The stock has a market capitalization of $7.37 billion, a PE ratio of 366.86 and a beta of 1.87. The company has a current ratio of 8.36, a quick ratio of 8.24 and a debt-to-equity ratio of 0.81. Neurocrine Biosciences has a fifty-two week low of $64.72 and a fifty-two week high of $126.98.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Tuesday, February 5th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The business had revenue of $131.49 million for the quarter, compared to the consensus estimate of $132.32 million. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.06%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. On average, equities analysts predict that Neurocrine Biosciences will post -0.04 earnings per share for the current fiscal year.
In related news, insider Kyle Gano sold 3,809 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $88.12, for a total value of $335,649.08. Following the completion of the sale, the insider now owns 17,595 shares in the company, valued at $1,550,471.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Charles Gorman sold 7,614 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total transaction of $671,250.24. Following the completion of the sale, the chief executive officer now owns 408,082 shares of the company’s stock, valued at approximately $35,976,509.12. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Eaton Vance Management raised its position in Neurocrine Biosciences by 20.8% during the fourth quarter. Eaton Vance Management now owns 129,434 shares of the company’s stock worth $9,243,000 after acquiring an additional 22,280 shares during the last quarter. Advisors Asset Management Inc. raised its position in Neurocrine Biosciences by 106.6% during the third quarter. Advisors Asset Management Inc. now owns 7,030 shares of the company’s stock worth $864,000 after acquiring an additional 3,628 shares during the last quarter. Standard Life Aberdeen plc acquired a new position in Neurocrine Biosciences during the third quarter worth about $16,815,000. Pacer Advisors Inc. acquired a new position in Neurocrine Biosciences during the third quarter worth about $327,000. Finally, NumerixS Investment Technologies Inc raised its position in Neurocrine Biosciences by 75.2% during the fourth quarter. NumerixS Investment Technologies Inc now owns 3,300 shares of the company’s stock worth $226,000 after acquiring an additional 1,416 shares during the last quarter.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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