Neurocrine Biosciences (NASDAQ:NBIX) Lowered to “Buy” Rating by StockNews.com

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages have also recently commented on NBIX. Royal Bank of Canada dropped their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. BMO Capital Markets lowered their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Guggenheim boosted their target price on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, 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 report on Monday, August 19th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $1.94 during trading on Friday, reaching $122.21. 1,512,407 shares of the stock traded hands, compared to its average volume of 863,768. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98. The business has a fifty day simple moving average of $119.77 and a two-hundred day simple moving average of $133.49. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 32.76 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.23). The firm had revenue of $622.10 million during the quarter, compared to the consensus estimate of $604.11 million. Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. On average, research analysts predict that Neurocrine Biosciences will post 4.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the transaction, the director now owns 119,047 shares in the company, valued at $17,908,240.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now directly owns 6,607 shares of the company’s stock, valued at $975,853.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gary A. Lyons sold 11,570 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total value of $1,740,475.10. Following the completion of the sale, the director now owns 119,047 shares of the company’s stock, valued at approximately $17,908,240.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,336 shares of company stock worth $7,063,652 over the last quarter. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after purchasing an additional 8,630 shares in the last quarter. Twin Tree Management LP raised its stake in Neurocrine Biosciences by 59.4% in the 1st quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock worth $2,641,000 after acquiring an additional 7,136 shares during the last quarter. Redwood Investment Management LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $642,000. Forsta AP Fonden grew its stake in Neurocrine Biosciences by 94.3% during the 1st quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock valued at $4,717,000 after purchasing an additional 16,600 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Neurocrine Biosciences by 96.7% in the first quarter. Inspire Investing LLC now owns 12,296 shares of the company’s stock valued at $1,696,000 after purchasing an additional 6,045 shares during the period. Institutional investors and hedge funds 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.