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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $163.52.

Several brokerages have weighed in on NBIX. Canaccord Genuity Group decreased their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Finally, UBS Group decreased their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday.

Neurocrine Biosciences Trading Down 7.0 %

Shares of NBIX opened at $95.65 on Monday. The stock has a market cap of $9.54 billion, a PE ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences has a 1 year low of $93.59 and a 1 year high of $157.98. The stock has a 50 day simple moving average of $120.01 and a 200-day simple moving average of $124.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, sell-side analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share buyback program on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now owns 517,030 shares of the company’s stock, valued at $79,064,227.60. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Huntington National Bank increased its position in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the period. GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Neurocrine Biosciences by 404.9% in the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after purchasing an additional 328 shares during the period. 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.