Neurocrine Biosciences (NASDAQ:NBIX – Free Report) had its price objective boosted by Needham & Company LLC from $138.00 to $139.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.
Other equities research analysts have also recently issued research reports about the stock. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Finally, Guggenheim dropped their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.00.
Get Our Latest Stock Report on NBIX
Neurocrine Biosciences Stock Down 3.4 %
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. During the same period last year, the firm posted $1.20 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.
Neurocrine Biosciences announced that its board has approved a share buyback program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Insider Activity at Neurocrine Biosciences
In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. The trade was a 44.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julie Cooke sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the transaction, the insider now owns 18,831 shares in the company, valued at $2,227,330.68. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,907 shares of company stock valued at $4,935,982 in the last three months. Corporate insiders own 4.30% of the company’s stock.
Institutional Investors Weigh In On Neurocrine Biosciences
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the fourth quarter valued at about $25,000. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Brooklyn Investment Group boosted its stake in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $34,000. Finally, GeoWealth Management LLC grew its position in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after buying an additional 102 shares during the period. Institutional investors own 92.59% of the company’s stock.
About Neurocrine Biosciences
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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