Neurocrine Biosciences (NASDAQ:NBIX) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a report released on Tuesday.

NBIX has been the subject of a number of other research reports. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. UBS Group upped their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Finally, Bank of America dropped their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Up 1.6 %

NASDAQ NBIX opened at $116.11 on Tuesday. The stock has a market capitalization of $11.58 billion, a P/E ratio of 35.29, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a 50-day moving average price of $136.75 and a 200 day moving average price of $129.71.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,600 shares of company stock worth $34,348,261 in the last three months. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caprock Group LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $236,000. Plato Investment Management Ltd lifted its holdings in shares of Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock worth $1,263,000 after buying an additional 10,548 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after buying an additional 4,100 shares during the last quarter. Tri Ri Asset Management Corp acquired a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $3,236,000. Finally, KBC Group NV lifted its holdings in shares of Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after buying an additional 8,332 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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.