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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $175.8421.

A number of equities research analysts have issued reports on the stock. Needham & Company LLC decreased their target price on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. TD Cowen lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Truist Financial reduced their price target on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Stifel Nicolaus increased their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, December 11th.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director directly owned 6,239 shares in the company, valued at $967,606.51. The trade was a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,966 shares of company stock worth $8,625,166 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Royal Bank of Canada raised its position in shares of Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after buying an additional 5,577 shares during the period. NewEdge Advisors LLC grew its stake in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after buying an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. raised its holdings in Neurocrine Biosciences by 143.6% in 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 period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.5%

NASDAQ:NBIX opened at $128.38 on Thursday. The business’s fifty day moving average price is $138.43 and its 200 day moving average price is $140.34. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 0.65 and a beta of 0.31. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $804.21 million. During the same period last year, the company earned $1.69 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

About Neurocrine Biosciences

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.