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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned an average rating of “Moderate Buy” from the twenty-two analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $181.20.

Several research firms recently issued reports on NBIX. Truist Financial cut their target price on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 16th. Royal Bank Of Canada dropped their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Morgan Stanley boosted their target price on Neurocrine Biosciences from $173.00 to $185.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th.

Neurocrine Biosciences Stock Up 3.6%

Shares of NASDAQ NBIX opened at $130.81 on Friday. Neurocrine Biosciences has a 52 week low of $94.30 and a 52 week high of $160.18. The firm’s fifty day moving average is $130.77 and its 200 day moving average is $138.40. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 0.65 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same period in the previous year, the company earned $1.69 EPS. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Equities research analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently modified their holdings of the stock. USA Financial Formulas purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Eastern Bank purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $27,000. Finally, DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.