Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $163.52.

Several research firms have commented on NBIX. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. UBS Group reduced their price objective on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Guggenheim decreased their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, March 26th.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the transaction, the director now owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,906 shares of company stock worth $33,869,030 in the last three months. 4.30% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the 4th quarter worth $25,000. Huntington National Bank increased its holdings in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. GeoWealth Management LLC boosted its stake in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after purchasing an additional 102 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after purchasing an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 7.0 %

Shares of NASDAQ NBIX opened at $95.65 on Monday. Neurocrine Biosciences has a 12-month low of $93.40 and a 12-month high of $157.98. The firm’s 50-day moving average price is $120.01 and its 200-day moving average price is $124.37. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, equities analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Neurocrine Biosciences Company Profile

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.