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

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

NBIX has been the subject of several recent analyst reports. HC Wainwright lifted their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Evercore ISI began coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 target price on the stock. Citigroup boosted their price target on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Oppenheimer boosted their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd.

Neurocrine Biosciences Stock Up 0.6 %

Neurocrine Biosciences stock opened at $139.08 on Friday. The stock’s 50 day moving average is $137.48 and its 200 day moving average is $136.22. The company has a market capitalization of $14.00 billion, a P/E ratio of 38.31 and a beta of 0.37. Neurocrine Biosciences has a twelve month low of $93.28 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.62). The company had revenue of $515.30 million for the quarter, compared to the consensus estimate of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. As a group, equities analysts expect that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insider Activity

In related news, Director Shalini Sharp sold 1,106 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $141.90, for a total value of $156,941.40. Following the sale, the director now owns 994 shares in the company, valued at $141,048.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, Director Shalini Sharp sold 1,106 shares of Neurocrine Biosciences stock in a transaction on Friday, May 17th. The shares were sold at an average price of $141.90, for a total value of $156,941.40. Following the completion of the transaction, the director now directly owns 994 shares of the company’s stock, valued at approximately $141,048.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,697 shares of company stock worth $13,377,515. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

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