Neurocrine Biosciences (NASDAQ:NBIX) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research note published on Monday.

Other analysts have also issued reports about the stock. TD Cowen boosted their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Needham & Company LLC reduced their target price on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Royal Bank Of Canada dropped their price target on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.42.

Neurocrine Biosciences Trading Up 0.8%

Neurocrine Biosciences stock opened at $124.12 on Monday. The company has a 50-day moving average price of $139.52 and a 200 day moving average price of $140.44. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $160.18. The stock has a market cap of $12.46 billion, a P/E ratio of 26.64, a PEG ratio of 0.57 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.Neurocrine Biosciences’s revenue was up 28.3% compared to the same quarter last year. During the same period last year, the business earned $1.69 EPS. As a group, analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the transaction, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. The trade was a 16.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,966 shares of company stock worth $8,625,166 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after acquiring an additional 5,577 shares during the period. NewEdge Advisors LLC raised its position in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at $1,333,000. Finally, Geneos Wealth Management Inc. boosted its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.