Mizuho Upgrades Neurocrine Biosciences (NASDAQ:NBIX) to Hold

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by stock analysts at Mizuho to a “hold” rating in a research note issued on Wednesday, Zacks reports.

NBIX has been the topic of a number of other research reports. Cantor Fitzgerald increased their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Stifel Nicolaus lifted their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Citigroup lifted their price target on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.09.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $151.83 on Wednesday. Neurocrine Biosciences has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The firm’s 50-day simple moving average is $162.42 and its 200 day simple moving average is $152.00. The stock has a market cap of $15.43 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 0.70 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, analysts predict that Neurocrine Biosciences will post 7.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 43,325 shares of company stock worth $7,611,976 in the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $28,000. Basecamp Wealth Advisors LLC grew its position in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $33,000. TrinityBridge Ltd acquired a new position in Neurocrine Biosciences during the 2nd quarter valued at approximately $45,000. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter worth $48,000. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.