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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned a consensus rating of “Moderate Buy” from the twenty-two research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $139.25.

A number of brokerages have recently commented on NBIX. StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their price target on shares of Neurocrine Biosciences from $127.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group raised their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a report on Thursday, January 25th.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 200 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at $1,050,980. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Ingrid Delaet sold 200 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at $1,050,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eiry Roberts sold 1,457 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the sale, the insider now owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,176 shares of company stock worth $24,562,081. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently modified their holdings of the stock. Dodge & Cox grew its holdings in Neurocrine Biosciences by 489.8% during the fourth quarter. Dodge & Cox now owns 1,259,744 shares of the company’s stock worth $165,984,000 after acquiring an additional 1,046,142 shares during the period. Norges Bank acquired a new position in Neurocrine Biosciences during the fourth quarter worth $111,786,000. BlackRock Inc. grew its holdings in Neurocrine Biosciences by 6.6% during the first quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock worth $1,363,094,000 after acquiring an additional 838,997 shares during the period. Vestal Point Capital LP acquired a new position in Neurocrine Biosciences during the fourth quarter worth $105,408,000. Finally, Braidwell LP acquired a new position in Neurocrine Biosciences during the first quarter worth $77,615,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $134.66 on Monday. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 0.87 and a beta of 0.25. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37. The firm’s 50 day simple moving average is $136.65 and its 200-day simple moving average is $126.43.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Analysts anticipate that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Neurocrine Biosciences Company Profile

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.