Neurocrine Biosciences (NASDAQ:NBIX) Cut to Buy at Wall Street Zen

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other research firms also recently weighed in on NBIX. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced their price objective on Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $168.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price target (up previously from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.25.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $136.06 on Friday. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $160.18. The company has a fifty day moving average price of $143.13 and a 200 day moving average price of $140.19. The stock has a market cap of $13.57 billion, a P/E ratio of 32.55, a PEG ratio of 0.73 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Activity

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the sale, the director directly owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,266 shares of company stock worth $11,400,517 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% during the 1st 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 last quarter. Golden State Wealth Management LLC raised its stake in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $27,000. Finally, Quent Capital LLC bought a new stake in shares of Neurocrine Biosciences during the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.