Neurocrine Biosciences (NASDAQ:NBIX) Sets New 52-Week High – Should You Buy?

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) shares reached a new 52-week high on Wednesday . The stock traded as high as $156.37 and last traded at $155.5230, with a volume of 510723 shares changing hands. The stock had previously closed at $143.19.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday. Canaccord Genuity Group lifted their price target on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.26.

Neurocrine Biosciences Price Performance

The firm has a market capitalization of $15.47 billion, a PE ratio of 37.09, a PEG ratio of 0.94 and a beta of 0.22. The firm’s fifty day moving average is $141.14 and its two-hundred day moving average is $130.54.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.46. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the sale, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. The trade was a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently made changes to their positions in NBIX. IFM Investors Pty Ltd increased its holdings in shares of Neurocrine Biosciences by 2.5% in the 1st quarter. IFM Investors Pty Ltd now owns 19,459 shares of the company’s stock worth $2,242,000 after buying an additional 469 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Neurocrine Biosciences by 3.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,785 shares of the company’s stock valued at $972,000 after purchasing an additional 320 shares during the last quarter. Blackhawk Capital Partners LLC. grew its holdings in shares of Neurocrine Biosciences by 48.6% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 14,521 shares of the company’s stock valued at $1,606,000 after purchasing an additional 4,750 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Neurocrine Biosciences by 4.0% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,603 shares of the company’s stock valued at $730,000 after purchasing an additional 253 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 1,001.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 14,042 shares of the company’s stock valued at $1,553,000 after purchasing an additional 12,767 shares during the last quarter. 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.