StockNews.com Downgrades Neurocrine Biosciences (NASDAQ:NBIX) to Buy

StockNews.com downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a report published on Thursday morning.

Several other analysts also recently commented on the company. Oppenheimer increased their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an outperform rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. Guggenheim boosted their target price on Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a buy rating in a research report on Thursday. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a buy rating in a report on Thursday. Finally, Citigroup decreased their price objective on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Price Performance

NBIX stock traded up $0.88 during trading on Thursday, hitting $140.71. 616,567 shares of the stock traded hands, compared to its average volume of 795,508. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The firm’s 50 day moving average is $137.37 and its two-hundred day moving average is $128.78.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, analysts anticipate that Neurocrine Biosciences will post 4.79 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider David W. Boyer sold 456 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the sale, the insider now directly owns 4,894 shares of the company’s stock, valued at $694,752.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Kevin Charles Gorman sold 3,040 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total value of $432,227.20. Following the transaction, the chief executive officer now directly owns 504,919 shares of the company’s stock, valued at approximately $71,789,383.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David W. Boyer sold 456 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the transaction, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The disclosure for this sale can be found here. Insiders have sold 181,547 shares of company stock valued at $25,039,887 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Vestal Point Capital LP bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $105,408,000. Los Angeles Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 66.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Neurocrine Biosciences by 120.6% in the third quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock worth $65,761,000 after buying an additional 319,564 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Neurocrine Biosciences by 73.0% during the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock valued at $73,045,000 after buying an additional 273,952 shares during the last quarter. Finally, Norges Bank purchased a new position in Neurocrine Biosciences during the 4th quarter valued at approximately $35,731,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.