Neurocrine Biosciences (NASDAQ:NBIX) Downgraded by StockNews.com

StockNews.com downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a report published on Thursday.

NBIX has been the subject of several other reports. BMO Capital Markets increased their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a market perform rating in a report on Thursday. Oppenheimer raised their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research report on Thursday. Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and upped their target price for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Canaccord Genuity Group raised their price target on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a buy rating in a report on Thursday. Finally, HC Wainwright upped their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $0.88 during trading hours on Thursday, hitting $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. The company’s 50-day moving average is $137.37 and its two-hundred day moving average is $128.88. The company has a market cap of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. Sell-side analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 approximately $5,438,154.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Charles Gorman sold 3,040 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $142.18, for a total value of $432,227.20. Following the completion of the sale, the chief executive officer now directly owns 504,919 shares in the company, valued at approximately $71,789,383.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,547 shares of company stock valued at $25,039,887. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. FCF Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $1,157,000. abrdn plc raised its holdings in Neurocrine Biosciences by 2,503.0% in the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after acquiring an additional 80,420 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth $1,245,000. HealthInvest Partners AB acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $1,256,000. Hedge funds and other 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.