Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.
According to Zacks, “Neurocrine Biosciences is a neuroscience-based company focused on the discovery and development of novel therapeutics for neuropsychiatric, neuroinflammatory and neurodegenerative diseases and disorders. The company’s neuroscience, endocrine and immunology disciplines provide a unique biological understanding of the molecular interaction between central nervous, immune and endocrine systems for the development of therapeutic interventions for anxiety, depression, insomnia, stroke, malignant brain tumors, multiple sclerosis, obesity and diabetes. “
NBIX has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $140.00 price objective on shares of Neurocrine Biosciences in a report on Monday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Monday, April 4th. Raymond James reiterated a “buy” rating and set a $125.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 11th. Jefferies Financial Group lowered shares of Neurocrine Biosciences to a “hold” rating and set a $94.00 target price on the stock. in a research report on Thursday, March 3rd. Finally, Morgan Stanley lifted their target price on shares of Neurocrine Biosciences from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, February 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.17.
Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last announced its earnings results on Friday, February 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.61 by ($0.69). Neurocrine Biosciences had a return on equity of 6.89% and a net margin of 7.90%. The firm had revenue of $312.00 million during the quarter, compared to the consensus estimate of $317.72 million. During the same quarter last year, the business earned $3.58 EPS. The business’s revenue was up 25.9% compared to the same quarter last year. Analysts anticipate that Neurocrine Biosciences will post 1.81 earnings per share for the current year.
In related news, CFO Matt Abernethy sold 3,310 shares of the stock in a transaction on Monday, February 7th. The shares were sold at an average price of $80.79, for a total transaction of $267,414.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen A. Sherwin sold 15,000 shares of the stock in a transaction on Monday, January 24th. The stock was sold at an average price of $74.43, for a total transaction of $1,116,450.00. The disclosure for this sale can be found here. Insiders sold 46,743 shares of company stock valued at $3,957,821 in the last ninety days. Insiders own 4.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in Neurocrine Biosciences by 0.4% in the third quarter. Janus Henderson Group PLC now owns 8,986,311 shares of the company’s stock valued at $861,871,000 after acquiring an additional 34,237 shares during the last quarter. Bellevue Group AG increased its position in Neurocrine Biosciences by 5.9% during the fourth quarter. Bellevue Group AG now owns 3,180,551 shares of the company’s stock worth $270,888,000 after acquiring an additional 176,500 shares during the period. Eaton Vance Management increased its position in Neurocrine Biosciences by 52.9% during the third quarter. Eaton Vance Management now owns 1,885,906 shares of the company’s stock worth $181,241,000 after acquiring an additional 652,772 shares during the period. Renaissance Technologies LLC increased its position in Neurocrine Biosciences by 5.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,423,664 shares of the company’s stock worth $121,253,000 after acquiring an additional 67,700 shares during the period. Finally, Deerfield Management Company L.P. Series C increased its position in Neurocrine Biosciences by 20.6% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,377,945 shares of the company’s stock worth $117,360,000 after acquiring an additional 235,530 shares during the period. Hedge funds and other institutional investors own 95.93% of the company’s stock.
About Neurocrine Biosciences (Get Rating)
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.
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