Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Consensus Rating of “Moderate Buy” by Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given a consensus rating of “Moderate Buy” by the twenty-two ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $175.10.

A number of brokerages have weighed in on NBIX. Citigroup boosted their target price on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada decreased their price target on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Wells Fargo & Company dropped their price objective on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Finally, Mizuho upped their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, December 12th.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares in the company, valued at $967,606.51. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Neurocrine Biosciences by 87.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock valued at $15,732,000 after acquiring an additional 58,562 shares during the last quarter. Saturn V Capital Management LP bought a new position in shares of Neurocrine Biosciences in the 2nd quarter worth $7,313,000. Capital Fund Management S.A. boosted its position in shares of Neurocrine Biosciences by 15.9% in the 2nd quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock worth $25,594,000 after purchasing an additional 27,987 shares during the last quarter. Rhenman & Partners Asset Management AB grew its stake in shares of Neurocrine Biosciences by 66.1% during the second quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock worth $18,755,000 after purchasing an additional 59,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Neurocrine Biosciences by 86.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 28,185 shares of the company’s stock worth $3,957,000 after purchasing an additional 13,087 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $129.78 on Monday. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $160.18. The firm has a market cap of $13.02 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The business has a fifty day moving average of $133.08 and a 200-day moving average of $140.28.

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

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.