Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Several other equities analysts have also issued reports on NBIX. Robert W. Baird upped their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets reduced their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. Guggenheim upped their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised 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. Finally, Royal Bank of Canada lowered their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded up $1.94 during mid-day trading on Friday, reaching $122.21. The company’s stock had a trading volume of 1,512,407 shares, compared to its average volume of 863,768. The firm’s fifty day moving average price is $119.77 and its two-hundred day moving average price is $133.49. Neurocrine Biosciences has a 12-month low of $103.63 and a 12-month high of $157.98. The company has a market capitalization of $12.34 billion, a P/E ratio of 32.76 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.23). The company had revenue of $622.10 million for the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 11,570 shares of the firm’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 value of $1,740,475.10. Following the sale, the director now owns 119,047 shares of the company’s stock, valued at $17,908,240.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now directly owns 6,607 shares in the company, valued at approximately $975,853.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,336 shares of company stock valued at $7,063,652. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Neurocrine Biosciences by 48.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,744 shares of the company’s stock valued at $654,000 after buying an additional 1,550 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 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 acquiring an additional 8,630 shares in the last quarter. State of Alaska Department of Revenue increased its position in Neurocrine Biosciences by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 10,795 shares of the company’s stock worth $1,488,000 after buying an additional 185 shares during the period. Norden Group LLC acquired a new stake in Neurocrine Biosciences in the first quarter worth $393,000. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Neurocrine Biosciences by 29.2% in the first quarter. First Trust Direct Indexing L.P. now owns 4,130 shares of the company’s stock worth $570,000 after purchasing an additional 933 shares in the last quarter. Institutional investors and hedge funds 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.