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

StockNews.com downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Other analysts have also issued research reports about the company. HC Wainwright dropped their price target on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group decreased their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Neurocrine Biosciences Trading Up 1.6 %

NBIX stock opened at $116.11 on Tuesday. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The company’s 50 day moving average is $136.75 and its 200 day moving average is $129.71. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,600 shares of company stock valued at $34,348,261 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently modified their holdings of NBIX. Caprock Group LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $236,000. Plato Investment Management Ltd raised its position in Neurocrine Biosciences by 2,481.9% in the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank raised its position in Neurocrine Biosciences by 1.4% in the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares during the period. Tri Ri Asset Management Corp purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $3,236,000. Finally, KBC Group NV increased its position in shares of Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after acquiring an additional 8,332 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.