Neurocrine Biosciences (NASDAQ:NBIX) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a report released on Thursday.

A number of other equities research analysts have also weighed in on NBIX. Barclays boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an overweight rating in a report on Thursday. Guggenheim increased their price target on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a buy rating in a report on Thursday. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. Mizuho upped their price objective on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a report on Thursday, February 8th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded up $1.00 during trading hours on Thursday, reaching $141.71. The stock had a trading volume of 483,775 shares, compared to its average volume of 849,429. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 39.38 and a beta of 0.28. The business’s 50 day moving average price is $137.37 and its 200-day moving average price is $129.00.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. During the same period in the previous year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that Neurocrine Biosciences will post 4.78 EPS for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the sale, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 200 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,050,980. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock valued at $25,039,887 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth $105,408,000. Los Angeles Capital Management LLC grew its position in shares of Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after buying an additional 364,986 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Neurocrine Biosciences by 120.6% in the third quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after acquiring an additional 319,564 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Neurocrine Biosciences by 73.0% in the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock worth $73,045,000 after acquiring an additional 273,952 shares during the last quarter. Finally, Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $35,731,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.