Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, ValuEngine reports.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a research report on Wednesday, April 10th. Barclays reissued a “buy” rating and issued a $110.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, March 29th. Evercore ISI began coverage on shares of Neurocrine Biosciences in a research report on Thursday. They issued an “outperform” rating on the stock. Oppenheimer set a $105.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. lowered shares of Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $97.00 to $100.00 in a research report on Wednesday, January 23rd. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $103.48.
NBIX stock traded down $1.43 during trading hours on Monday, reaching $84.81. The stock had a trading volume of 625,300 shares, compared to its average volume of 892,451. The stock has a market cap of $7.78 billion, a P/E ratio of 385.50, a P/E/G ratio of 27.82 and a beta of 1.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 8.36 and a quick ratio of 8.24. Neurocrine Biosciences has a fifty-two week low of $64.72 and a fifty-two week high of $126.98.
In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 7,614 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total transaction of $671,250.24. Following the sale, the chief executive officer now directly owns 408,082 shares in the company, valued at $35,976,509.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kyle Gano sold 3,809 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $88.12, for a total transaction of $335,649.08. Following the sale, the insider now owns 17,595 shares in the company, valued at $1,550,471.40. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Standard Life Aberdeen plc acquired a new stake in Neurocrine Biosciences during the third quarter worth $16,815,000. GSA Capital Partners LLP acquired a new stake in Neurocrine Biosciences during the third quarter worth $595,000. Pacer Advisors Inc. acquired a new stake in Neurocrine Biosciences during the third quarter worth $327,000. Thrivent Financial for Lutherans increased its stake in Neurocrine Biosciences by 39.9% during the third quarter. Thrivent Financial for Lutherans now owns 355,750 shares of the company’s stock worth $43,739,000 after acquiring an additional 101,517 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Neurocrine Biosciences by 106.6% during the third quarter. Advisors Asset Management Inc. now owns 7,030 shares of the company’s stock worth $864,000 after acquiring an additional 3,628 shares during the last quarter.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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