Wall Street Zen Downgrades Neurocrine Biosciences (NASDAQ:NBIX) to Buy

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued reports about the company. 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 research note on Monday, December 8th. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. TD Cowen increased their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $175.20.

Neurocrine Biosciences Trading Up 0.2%

Shares of NBIX opened at $135.79 on Friday. The firm has a fifty day simple moving average of $146.36 and a two-hundred day simple moving average of $139.65. The firm has a market cap of $13.54 billion, a PE ratio of 32.49, a P/E/G ratio of 0.66 and a beta of 0.28. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $160.18.

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

Insider Activity at Neurocrine Biosciences

In related news, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the transaction, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. This represents a 67.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,866 shares of company stock worth $6,570,237 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in Neurocrine Biosciences by 785.6% during the 4th quarter. SG Americas Securities LLC now owns 134,530 shares of the company’s stock valued at $19,080,000 after buying an additional 119,339 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Neurocrine Biosciences by 70.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 80,012 shares of the company’s stock worth $11,348,000 after acquiring an additional 33,065 shares during the last quarter. Diversified Trust Co. purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $457,000. Fulton Bank N.A. grew its stake in Neurocrine Biosciences by 12.3% during the fourth quarter. Fulton Bank N.A. now owns 4,092 shares of the company’s stock valued at $580,000 after acquiring an additional 448 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Neurocrine Biosciences by 33.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 54,393 shares of the company’s stock valued at $7,489,000 after acquiring an additional 13,534 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

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.