Neurocrine Biosciences (NASDAQ:NBIX) Reaches New 12-Month Low – Time to Sell?

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) hit a new 52-week low on Thursday . The stock traded as low as $104.53 and last traded at $105.26, with a volume of 602535 shares traded. The stock had previously closed at $108.31.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research analyst reports. Canaccord Genuity Group dropped their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Wedbush reduced their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group lowered their price objective on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Five investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.52.

Neurocrine Biosciences Stock Down 7.0 %

The company has a market cap of $9.54 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.35. The stock’s 50-day simple moving average is $120.01 and its 200 day simple moving average is $124.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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 return on equity of 13.38% and a net margin of 14.49%. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the sale, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock worth $33,869,030 over the last three months. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently bought and sold shares of the business. OneDigital Investment Advisors LLC lifted its stake in Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock worth $575,000 after purchasing an additional 87 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company’s stock valued at $334,000 after buying an additional 96 shares in the last quarter. Huntington National Bank grew its position in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after acquiring an additional 100 shares in the last quarter. Finally, Utah Retirement Systems lifted its position in Neurocrine Biosciences by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company’s stock valued at $2,264,000 after acquiring an additional 100 shares during the last quarter. 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.