Neurocrine Biosciences (NASDAQ:NBIX) Sets New 1-Year Low – Here’s Why

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) hit a new 52-week low on Tuesday . The stock traded as low as $110.25 and last traded at $113.12, with a volume of 342330 shares traded. The stock had previously closed at $114.48.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Canaccord Genuity Group decreased their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. Wedbush lowered their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Price Performance

The stock has a market cap of $11.27 billion, a P/E ratio of 34.22, a PEG ratio of 0.77 and a beta of 0.33. The company has a fifty day moving average of $134.45 and a 200 day moving average of $128.02.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 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%. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has initiated a share buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock valued at $34,053,879 in the last three months. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Dodge & Cox lifted its stake in shares of Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after buying an additional 1,728,605 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $115,193,000. Wellington Management Group LLP lifted its position in shares of Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after purchasing an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock valued at $100,705,000 after purchasing an additional 711,970 shares during the period. Finally, Orbimed Advisors LLC grew its holdings in Neurocrine Biosciences by 210.4% in the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company’s stock valued at $128,053,000 after buying an additional 635,900 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

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.