Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $201.0909.

A number of equities research analysts have recently weighed in on NBIX shares. Piper Sandler raised their price objective on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. BMO Capital Markets increased their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a report on Monday, July 13th. TD Cowen raised their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings cut Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, Wedbush lifted their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $156.22 on Monday. The company’s 50 day moving average price is $164.46 and its 200 day moving average price is $151.42. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $891.16 million. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. Equities analysts forecast that Neurocrine Biosciences will post 7.25 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 4,367 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares of the company’s stock, valued at $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 40,188 shares of company stock valued at $7,118,633. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after acquiring an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at about $1,333,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.