Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Average Rating of “Moderate Buy” from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received an average recommendation of “Moderate Buy” from the twenty-four analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $162.20.

NBIX has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Royal Bank of Canada dropped their price objective on shares of Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. Guggenheim raised their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, UBS Group raised their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th.

Neurocrine Biosciences Trading Up 2.0 %

NBIX opened at $121.47 on Thursday. The company’s 50 day moving average is $141.63 and its 200-day moving average is $138.79. The company has a market cap of $12.22 billion, a P/E ratio of 33.46 and a beta of 0.37. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. On average, equities analysts forecast that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,798 shares of company stock valued at $10,676,096. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of NBIX. International Assets Investment Management LLC boosted its holdings in Neurocrine Biosciences by 7,880.3% during the 4th quarter. International Assets Investment Management LLC now owns 5,666 shares of the company’s stock worth $747,000 after acquiring an additional 5,595 shares during the last quarter. Principal Securities Inc. purchased a new position in Neurocrine Biosciences during the 4th quarter worth $75,000. QRG Capital Management Inc. boosted its holdings in Neurocrine Biosciences by 13.1% during the 4th quarter. QRG Capital Management Inc. now owns 14,526 shares of the company’s stock worth $1,914,000 after acquiring an additional 1,685 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Neurocrine Biosciences by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock worth $44,343,000 after acquiring an additional 5,907 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after acquiring an additional 78 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other 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.