Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have received an average recommendation of “Moderate Buy” from the twenty-five research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $152.00.

A number of research firms recently weighed in on NBIX. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday, May 1st. Oppenheimer lifted their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Evercore ISI began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 price objective for the company. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Barclays raised their price target on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $140.55, for a total value of $38,370.15. Following the transaction, the insider now owns 7,507 shares in the company, valued at $1,055,108.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now owns 7,507 shares in the company, valued at approximately $1,055,108.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,697 shares of company stock worth $11,975,615. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. FCF Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $1,157,000. Norges Bank purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $35,731,000. abrdn plc increased its position in shares of Neurocrine Biosciences by 2,503.0% during the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after buying an additional 80,420 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter worth about $1,245,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Neurocrine Biosciences by 18.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after acquiring an additional 18,070 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 2.5 %

Shares of NBIX stock opened at $137.67 on Friday. The company has a 50 day moving average of $137.34 and a 200-day moving average of $135.62. Neurocrine Biosciences has a 12-month low of $93.02 and a 12-month high of $148.37. The firm has a market cap of $13.86 billion, a P/E ratio of 37.93 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $512.21 million. As a group, equities analysts expect that Neurocrine Biosciences will post 4.19 EPS for the current year.

About Neurocrine Biosciences

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.