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

Wall Street Zen lowered shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

NBIX has been the topic of several other reports. HC Wainwright lifted their target price on Neurocrine Biosciences from $168.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. Citigroup raised their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.10.

Neurocrine Biosciences Stock Down 2.3%

Shares of NASDAQ:NBIX opened at $132.66 on Friday. The stock has a market capitalization of $13.23 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 0.66 and a beta of 0.28. The firm’s 50 day moving average price is $146.17 and its 200-day moving average price is $139.86. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 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 during the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the prior year, the company earned $1.81 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction 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 trade represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. The trade was a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 43,866 shares of company stock valued at $6,570,237. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds 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 raised its position 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 valued at $1,560,000 after buying an additional 77 shares in the last quarter. Diametric Capital LP lifted its holdings in shares of Neurocrine Biosciences by 2.6% in the 2nd quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock valued at $408,000 after acquiring an additional 81 shares during the last quarter. Great Lakes Advisors LLC grew its position in Neurocrine Biosciences by 2.4% in the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after acquiring an additional 84 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Neurocrine Biosciences by 4.2% during the second quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock worth $273,000 after acquiring an additional 88 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.