Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Lowered by StockNews.com

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

A number of other equities analysts also recently commented on NBIX. Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Royal Bank of Canada dropped their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, Canaccord Genuity Group dropped their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $111.92 on Thursday. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The business’s 50-day moving average is $126.90 and its 200-day moving average is $125.15.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results 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 13.38%. Equities research analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the transaction, the director now directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caprock Group LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $236,000. Charles Schwab Investment Management Inc. raised its stake in Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares in the last quarter. Swiss National Bank raised its stake in Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after acquiring an additional 4,100 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in Neurocrine Biosciences during the third quarter worth $3,236,000. Finally, Oakworth Capital Inc. acquired a new position in Neurocrine Biosciences during the fourth quarter worth $379,000. 92.59% of the stock is owned by institutional investors.

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.