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

by · The Markets Daily

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $173.00.

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Morgan Stanley cut their price target on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Stifel Nicolaus boosted their price target on Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd.

View Our Latest Stock Report on Neurocrine Biosciences

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction on Monday, December 8th. The shares were 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 in the company, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kyle Gano sold 300 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 37,676 shares of company stock worth $5,624,529 over the last ninety days. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC raised its holdings in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $27,000. WPG Advisers LLC acquired a new position in shares of Neurocrine Biosciences in the 1st quarter worth approximately $32,000. Finally, Quent Capital LLC bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.4%

NBIX stock opened at $155.63 on Friday. The firm has a 50-day moving average price of $144.68 and a 200-day moving average price of $136.79. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The stock has a market capitalization of $15.52 billion, a P/E ratio of 37.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings data 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 business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 EPS. As a group, equities analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

About Neurocrine Biosciences

(Get Free Report)

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.

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