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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $174.25.

A number of research firms recently issued reports on NBIX. Truist Financial decreased their price objective on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Stifel Nicolaus upped their price target on Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Thursday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price (up previously from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th.

Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the business’s 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 completion of 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 through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the transaction, the insider owned 43,405 shares in the company, valued at $6,929,608.25. This represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 80,266 shares of company stock valued at $11,400,517. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AlTi Global Inc. lifted its position in Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after purchasing an additional 70 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after acquiring an additional 77 shares during the last quarter. Perigon Wealth Management LLC grew its position in Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after acquiring an additional 78 shares in the last quarter. Diametric Capital LP grew its position in Neurocrine Biosciences by 2.6% in the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock worth $408,000 after acquiring an additional 81 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Neurocrine Biosciences by 4.5% in the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after acquiring an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 0.9%

NBIX opened at $136.18 on Friday. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company has a market cap of $13.58 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.28. The company has a 50 day moving average of $143.61 and a 200 day moving average of $140.20.

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