Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Rated “Moderate Buy” by Wall Street Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $202.05.

NBIX has been the topic of a number of research reports. Wall Street Zen downgraded shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $182.00 to $183.00 and gave the company an “equal weight” rating in a report on Friday, September 11th. Cantor Fitzgerald upped their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd.

Neurocrine Biosciences Trading Down 1.5%

Shares of Neurocrine Biosciences stock opened at $141.25 on Friday. Neurocrine Biosciences has a 1 year low of $122.14 and a 1 year high of $186.12. The company has a market cap of $14.36 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.67 and a beta of 0.40. The stock has a 50-day moving average price of $152.23 and a 200 day moving average price of $153.26.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. On average, equities analysts forecast that Neurocrine Biosciences will post 7.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the sale, the director owned 1,588 shares of the company’s stock, valued at $289,031.88. This trade represents a 44.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Boyer sold 826 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the transaction, the insider owned 8,722 shares of the company’s stock, valued at approximately $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,387 shares of company stock valued at $720,855 in the last 90 days. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $28,000. Basecamp Wealth Advisors LLC increased its position in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter valued at $33,000. Ascentis Independent Advisors acquired a new position in shares of Neurocrine Biosciences in the first quarter valued at $40,000. Finally, SJS Investment Consulting Inc. lifted its position in Neurocrine Biosciences by 67.2% in the first quarter. SJS Investment Consulting Inc. now owns 341 shares of the company’s stock worth $45,000 after purchasing an additional 137 shares during the period. 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 related disorders. The company is headquartered in San Diego, California, and conducts research through internal programs and collaborations with academic institutions and other pharmaceutical companies.

Neurocrine’s principal commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor used to treat tardive dyskinesia and chorea associated with Huntington’s disease.