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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $159.50.

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Truist Financial started coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $163.00 price target for the company. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Finally, Wedbush boosted their price target on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st.

Neurocrine Biosciences Trading Up 0.9%

Neurocrine Biosciences stock opened at $138.13 on Thursday. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $154.61. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 0.99 and a beta of 0.25. The firm has a 50 day simple moving average of $130.76 and a 200 day simple moving average of $119.11.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The business had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. During the same period in the previous year, the business earned $1.63 EPS. Neurocrine Biosciences’s revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction 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 completion of the sale, the director directly owned 514,596 shares of the company’s stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider directly owned 18,289 shares of the company’s stock, valued at $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,960 shares of company stock valued at $23,955,553 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in Neurocrine Biosciences in the 4th quarter worth $331,000. Dimensional Fund Advisors LP lifted its stake in Neurocrine Biosciences by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 550,157 shares of the company’s stock worth $75,101,000 after purchasing an additional 26,525 shares during the last quarter. MML Investors Services LLC lifted its stake in Neurocrine Biosciences by 15.9% in the fourth quarter. MML Investors Services LLC now owns 11,392 shares of the company’s stock worth $1,555,000 after purchasing an additional 1,559 shares during the last quarter. Stifel Financial Corp lifted its stake in Neurocrine Biosciences by 24.2% in the fourth quarter. Stifel Financial Corp now owns 22,676 shares of the company’s stock worth $3,095,000 after purchasing an additional 4,425 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Neurocrine Biosciences in the fourth quarter worth $222,000. 92.59% of the stock is owned by institutional investors.

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.