Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been assigned an average recommendation of “Moderate Buy” from the twenty-five brokerages that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $152.00.

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. Citigroup raised their price target on Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. BMO Capital Markets boosted their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group increased their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd.

Neurocrine Biosciences Trading Up 0.5 %

Shares of NBIX opened at $138.23 on Friday. The stock has a market cap of $13.91 billion, a PE ratio of 38.08 and a beta of 0.37. Neurocrine Biosciences has a 1 year low of $93.28 and a 1 year high of $148.37. The stock has a 50 day simple moving average of $137.41 and a 200-day simple moving average of $136.07.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Neurocrine Biosciences will post 4.19 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $140.55, for a total value of $38,370.15. Following the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,055,108.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $140.55, for a total value of $38,370.15. Following the completion of the sale, 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 sold 98,697 shares of company stock valued at $13,377,515 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in Neurocrine Biosciences during the third quarter worth $276,000. FMR LLC grew its holdings in shares of Neurocrine Biosciences by 129.6% in the 3rd quarter. FMR LLC now owns 22,005 shares of the company’s stock valued at $2,476,000 after acquiring an additional 12,420 shares in the last quarter. Mariner LLC increased its position in shares of Neurocrine Biosciences by 6.5% in the third quarter. Mariner LLC now owns 10,978 shares of the company’s stock valued at $1,235,000 after acquiring an additional 670 shares during the last quarter. Stifel Financial Corp raised its holdings in Neurocrine Biosciences by 25.4% during the third quarter. Stifel Financial Corp now owns 18,794 shares of the company’s stock worth $2,114,000 after acquiring an additional 3,802 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its position in Neurocrine Biosciences by 22.5% during the third quarter. Natixis Advisors L.P. now owns 30,343 shares of the company’s stock valued at $3,414,000 after purchasing an additional 5,573 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.