Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) have been given an average rating of “Moderate Buy” by the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $201.14.
NBIX has been the topic of several recent analyst reports. Zacks Research lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Guggenheim started coverage on Neurocrine Biosciences in a report on Tuesday, October 6th. They issued a “buy” rating and a $207.00 price target for the company. Weiss Ratings raised Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Citigroup increased their price target on Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $198.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, September 8th.
Read Our Latest Report on NBIX
Insider Buying and Selling
In related news, CFO Matt Abernethy sold 2,311 shares of Neurocrine Biosciences stock in a transaction on Monday, September 14th. The shares were sold at an average price of $157.20, for a total value of $363,289.20. Following the sale, the chief financial officer owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 David Boyer sold 826 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the sale, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Company insiders own 4.60% of the company’s stock.
Institutional Trading of Neurocrine Biosciences
Hedge funds have recently modified their holdings of the stock. Raleigh Capital Management Inc. boosted its stake in shares of Neurocrine Biosciences by 561.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 225 shares of the company’s stock valued at $32,000 after buying an additional 191 shares during the period. Basecamp Wealth Advisors LLC grew its position in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after buying an additional 204 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter worth approximately $33,000. TrinityBridge Ltd purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $45,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $48,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.
Neurocrine Biosciences Price Performance
NASDAQ:NBIX opened at $146.38 on Tuesday. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.64 and a beta of 0.40. The company has a 50 day moving average price of $146.77 and a 200-day moving average price of $147.32. Neurocrine Biosciences has a 1-year low of $122.14 and a 1-year high of $186.12.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same period in the previous year, the business posted $1.65 EPS. The business’s revenue was up 39.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Neurocrine Biosciences will post 7.72 earnings per share for the current fiscal year.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.
Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.
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