Neurocrine Biosciences (NASDAQ:NBIX) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Several other research analysts also recently commented on the stock. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Piper Sandler boosted their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. HC Wainwright raised their price objective on Neurocrine Biosciences from $168.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. UBS Group decreased their target price on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Finally, Citigroup increased their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.25.

Neurocrine Biosciences Stock Down 1.4%

NBIX stock opened at $136.06 on Friday. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $160.18. The business has a 50-day simple moving average of $143.13 and a 200 day simple moving average of $140.26. The company has a market cap of $13.57 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.28.

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 80,266 shares of company stock worth $11,400,517. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the stock. AMG National Trust Bank acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $1,748,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Neurocrine Biosciences by 1.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 79,895 shares of the company’s stock worth $11,332,000 after purchasing an additional 847 shares during the last quarter. M&T Bank Corp raised its holdings in Neurocrine Biosciences by 30.4% during the 4th quarter. M&T Bank Corp now owns 4,318 shares of the company’s stock worth $613,000 after purchasing an additional 1,007 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $219,000. Finally, Gray Foundation bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $5,361,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.