Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $202.73.
Several analysts recently issued reports on the company. Mizuho upgraded Neurocrine Biosciences to a “hold” rating in a research report on Wednesday, September 16th. Truist Financial lifted their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Piper Sandler boosted their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. BMO Capital Markets raised their target price on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Citigroup lifted their price target on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a report on Thursday, September 3rd.
View Our Latest Stock Analysis on NBIX
Neurocrine Biosciences Stock Performance
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. On average, analysts forecast that Neurocrine Biosciences will post 7.26 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider David W. Boyer sold 826 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the completion of the sale, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at $9,829,328.40. This trade represents a 15.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 33,325 shares of company stock worth $5,910,496. Insiders own 4.60% of the company’s stock.
Institutional Investors Weigh In On Neurocrine Biosciences
Several hedge funds and other institutional investors have recently modified their holdings of NBIX. QRG Capital Management Inc. boosted its stake in shares of Neurocrine Biosciences by 14.4% during the second quarter. QRG Capital Management Inc. now owns 18,903 shares of the company’s stock valued at $3,186,000 after purchasing an additional 2,384 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Neurocrine Biosciences by 25.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,942 shares of the company’s stock valued at $496,000 after acquiring an additional 590 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 31.0% in the second quarter. Sequoia Financial Advisors LLC now owns 6,351 shares of the company’s stock valued at $1,070,000 after purchasing an additional 1,502 shares during the period. Tidal Investments LLC boosted its holdings in shares of Neurocrine Biosciences by 186.7% in the second quarter. Tidal Investments LLC now owns 81,460 shares of the company’s stock valued at $13,729,000 after purchasing an additional 53,045 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Neurocrine Biosciences in the second quarter worth approximately $270,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and related disorders. The company is headquartered in San Diego, California, and conducts research through internal programs and collaborations with academic institutions and other pharmaceutical companies.
Neurocrine’s principal commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor used to treat tardive dyskinesia and chorea associated with Huntington’s disease.
Featured Stories
- Five stocks we like better than Neurocrine Biosciences
- Could Nike’s Brutal Sell-Off Finally Be Running Out of Steam?
- The AI Buildout Needs Power It Cannot Get: 4 Energy Stocks Already Have It
- McDonald’s Is Undergoing a Massive New Growth Strategy. Can It Win Back Consumers?
- MGM Resorts Stock Sinks After Diller Deal Collapse: Overreaction or Warning?
Receive News & Ratings for Neurocrine Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurocrine Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.
