Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $154.08.

NBIX has been the subject of a number of analyst reports. Evercore ISI initiated coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective for the company. Barclays upped their price target on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday. HC Wainwright upped their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Guggenheim upped their price target on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 2nd.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $146.80 on Wednesday. Neurocrine Biosciences has a one year low of $99.36 and a one year high of $150.39. The company has a market cap of $14.77 billion, a PE ratio of 40.44 and a beta of 0.37. The business has a 50-day simple moving average of $139.16 and a 200-day simple moving average of $137.97.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. On average, sell-side analysts predict that Neurocrine Biosciences will post 4.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,421,486.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,421,486.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $140.55, for a total value of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,055,108.85. The disclosure for this sale can be found here. Insiders have sold 80,709 shares of company stock valued at $11,009,150 over the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its holdings in Neurocrine Biosciences by 10.5% in the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after purchasing an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Neurocrine Biosciences by 0.6% in the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares during the last quarter. Finally, Balentine LLC grew its holdings in Neurocrine Biosciences by 4.0% in the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.