Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $137.92.

NBIX has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $150.00 price target on shares of Neurocrine Biosciences in a report on Thursday, December 7th. Wells Fargo & Company increased their price target on Neurocrine Biosciences from $127.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Mizuho increased their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a report on Tuesday, December 12th. They set a “buy” rating and a $136.00 price target on the stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $137.83 on Thursday. The company has a 50 day simple moving average of $137.25 and a 200-day simple moving average of $124.38. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 56.95, a price-to-earnings-growth ratio of 0.90 and a beta of 0.25. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, analysts predict that Neurocrine Biosciences will post 4.88 EPS for the current year.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences 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 completion of the sale, the insider now directly owns 7,507 shares in the company, valued at $1,050,980. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences 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 completion of the sale, the insider now directly owns 7,507 shares in the company, valued at $1,050,980. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matt Abernethy sold 1,280 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $142.19, for a total value of $182,003.20. Following the completion of the sale, the chief financial officer now owns 29,434 shares of the company’s stock, valued at $4,185,220.46. The disclosure for this sale can be found here. Insiders sold a total of 369,055 shares of company stock worth $49,891,073 over the last three months. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Neurocrine Biosciences by 6.6% during the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock worth $1,363,094,000 after buying an additional 838,997 shares during the period. Vanguard Group Inc. grew its position in shares of Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after buying an additional 150,485 shares during the period. State Street Corp grew its position in shares of Neurocrine Biosciences by 4.1% during the 2nd quarter. State Street Corp now owns 3,956,499 shares of the company’s stock worth $373,098,000 after buying an additional 156,584 shares during the period. Geode Capital Management LLC grew its position in shares of Neurocrine Biosciences by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,523,408 shares of the company’s stock worth $143,431,000 after buying an additional 87,671 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Neurocrine Biosciences by 25.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,476,949 shares of the company’s stock worth $194,603,000 after buying an additional 297,299 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.