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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Four research 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 twelve-month price objective among analysts that have issued a report on the stock in the last year is $175.25.

A number of equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Piper Sandler increased their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, December 8th. HC Wainwright upped their price objective on Neurocrine Biosciences from $168.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th.

Neurocrine Biosciences Trading Down 1.9%

NBIX stock opened at $140.95 on Wednesday. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $160.18. The firm has a market cap of $14.05 billion, a PE ratio of 33.72, a P/E/G ratio of 0.94 and a beta of 0.27. The business’s 50-day moving average price is $147.06 and its two-hundred day moving average price is $139.14.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same quarter last year, the firm posted $1.81 earnings per share. Neurocrine Biosciences’s revenue was up 27.8% compared to the same quarter last year. On average, analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the sale, the director directly owned 40,360 shares in the company, valued at $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darin Lippoldt sold 4,376 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the transaction, the insider owned 43,405 shares of the company’s stock, valued at $6,929,608.25. The trade was a 9.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 43,866 shares of company stock valued at $6,570,237 over the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in Neurocrine Biosciences during the first quarter valued at approximately $108,000. Vident Advisory LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $202,000. Baird Financial Group Inc. raised its stake in shares of Neurocrine Biosciences by 5.7% during the 1st quarter. Baird Financial Group Inc. now owns 57,820 shares of the company’s stock worth $6,395,000 after purchasing an additional 3,103 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Neurocrine Biosciences by 36.7% in the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after buying an additional 22,224 shares during the last quarter. Finally, Palo Alto Investors LP bought a new position in shares of Neurocrine Biosciences in the first quarter valued at $1,475,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.