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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $175.8421.

A number of research analysts recently commented on NBIX shares. HC Wainwright lowered their price objective on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Mizuho lifted their price target on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Wells Fargo & Company lowered their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Thursday, January 22nd.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $128.38 on Thursday. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $160.18. The stock’s fifty day moving average is $138.43 and its 200-day moving average is $140.34. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same quarter in the prior year, the company earned $1.69 EPS. The business’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director directly owned 6,239 shares in the company, valued at $967,606.51. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,966 shares of company stock valued at $8,625,166 over the last quarter. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Mercer Global Advisors Inc. ADV raised its holdings in Neurocrine Biosciences by 29.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 40,957 shares of the company’s stock worth $5,809,000 after buying an additional 9,355 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $418,000. NewEdge Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 5.5% during the fourth quarter. NewEdge Advisors LLC now owns 12,998 shares of the company’s stock valued at $1,844,000 after acquiring an additional 672 shares during the period. XTX Topco Ltd lifted its position in shares of Neurocrine Biosciences by 326.3% in the 4th quarter. XTX Topco Ltd now owns 11,775 shares of the company’s stock valued at $1,670,000 after acquiring an additional 9,013 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Neurocrine Biosciences in the 4th quarter worth approximately $65,162,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.