Neurocrine Biosciences (NASDAQ:NBIX) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Several other equities research analysts have also weighed in on NBIX. UBS Group increased their target price on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a buy rating in a report on Tuesday, May 28th. Morgan Stanley restated an overweight rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Wednesday. BMO Capital Markets lifted their price objective on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a market perform rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a hold rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. Finally, Evercore ISI assumed coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They set an outperform rating and a $175.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $152.00.

Neurocrine Biosciences Stock Down 0.6 %

Neurocrine Biosciences stock opened at $135.45 on Wednesday. Neurocrine Biosciences has a 12-month low of $93.02 and a 12-month high of $148.37. The stock has a 50-day simple moving average of $137.49 and a 200 day simple moving average of $134.58. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 37.31 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.62). The business had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insiders Place Their Bets

In related news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now owns 7,507 shares in the company, valued at approximately $1,055,108.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold 93,697 shares of company stock worth $12,700,915 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after buying an additional 220,598 shares during the last quarter. DSM Capital Partners LLC raised its holdings in shares of Neurocrine Biosciences by 15.4% during the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after purchasing an additional 163,747 shares during the last quarter. Brown Advisory Inc. lifted its position in Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after purchasing an additional 23,831 shares during the period. Braidwell LP grew its position in Neurocrine Biosciences by 3.7% in the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after purchasing an additional 34,662 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after buying an additional 364,986 shares during the period. Institutional investors 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.