Neurocrine Biosciences (NASDAQ:NBIX) Sets New 52-Week High at $157.98

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) hit a new 52-week high during trading on Thursday . The company traded as high as $157.98 and last traded at $153.82, with a volume of 226158 shares traded. The stock had previously closed at $141.57.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets upped their target price on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Wedbush restated an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. UBS Group upped their target price on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. HC Wainwright upped their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Citigroup increased their price objective on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $154.08.

Neurocrine Biosciences Price Performance

The stock’s fifty day simple moving average is $139.29 and its 200-day simple moving average is $138.16. The firm has a market cap of $15.35 billion, a PE ratio of 42.30 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The company had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. Analysts expect that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the transaction, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,709 shares of company stock valued at $11,009,150. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NBIX. Mather Group LLC. acquired a new stake in Neurocrine Biosciences during the first quarter valued at $26,000. RFP Financial Group LLC grew its position in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares during the period. Lindbrook Capital LLC grew its position in Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares during the period. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences during the second quarter valued at $30,000. Finally, EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at $31,000. 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.