Neurocrine Biosciences (NASDAQ:NBIX) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report report published on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $207.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Citigroup upped their target price on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $198.00 target price on shares of Neurocrine Biosciences in a research note on Tuesday, September 8th. Finally, Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $202.05.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $141.25 on Tuesday. Neurocrine Biosciences has a 12-month low of $122.14 and a 12-month high of $186.12. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 0.67 and a beta of 0.40. The firm’s fifty day moving average price is $152.23 and its 200 day moving average price is $153.26.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same period in the prior year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts forecast that Neurocrine Biosciences will post 7.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David Boyer sold 826 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the transaction, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of Neurocrine Biosciences stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.20, for a total transaction of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This represents a 5.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,387 shares of company stock worth $720,855 over the last ninety days. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Neurocrine Biosciences during the second quarter worth about $2,310,886,000. Renaissance Technologies LLC boosted its stake in Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after acquiring an additional 180,100 shares during the period. First Trust Advisors LP boosted its stake in Neurocrine Biosciences by 97.0% in the first quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after acquiring an additional 472,408 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Neurocrine Biosciences during the second quarter valued at approximately $117,827,000. Finally, Armistice Capital LLC grew its holdings in shares of Neurocrine Biosciences by 17.7% during the fourth quarter. Armistice Capital LLC now owns 820,240 shares of the company’s stock valued at $116,335,000 after purchasing an additional 123,218 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and related disorders. The company is headquartered in San Diego, California, and conducts research through internal programs and collaborations with academic institutions and other pharmaceutical companies.

Neurocrine’s principal commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor used to treat tardive dyskinesia and chorea associated with Huntington’s disease.