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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat.com reports. Five 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 1 year target price among brokerages that have updated their coverage on the stock in the last year is $162.20.

A number of research analysts have weighed in on NBIX shares. Citigroup increased their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Jefferies Financial Group increased their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Guggenheim increased their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets reduced their price target on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, August 29th.

Insider Activity

In other news, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares in the company, valued at $2,551,738.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares in the company, valued at $2,551,738.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the sale, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. The disclosure for this sale can be found here. Insiders sold 71,798 shares of company stock worth $10,676,096 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of NBIX. Vestal Point Capital LP acquired a new position in Neurocrine Biosciences in the fourth quarter worth about $105,408,000. 1832 Asset Management L.P. grew its stake in Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after purchasing an additional 504,400 shares in the last quarter. Norges Bank acquired a new position in Neurocrine Biosciences in the fourth quarter worth about $35,731,000. AQR Capital Management LLC grew its stake in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after purchasing an additional 228,444 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after acquiring an additional 220,598 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $122.25 on Thursday. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98. The stock’s 50 day moving average price is $140.55 and its 200 day moving average price is $138.56. The firm has a market cap of $12.30 billion, a P/E ratio of 33.68 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the previous year, the company posted $0.95 EPS. Neurocrine Biosciences’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences will post 4.19 earnings per share for the current year.

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.