Neurocrine Biosciences (NASDAQ:NBIX) Downgraded by StockNews.com to “Buy”

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

A number of other brokerages have also recently commented on NBIX. Barclays increased their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued an overweight rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Oppenheimer increased their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, UBS Group raised their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $152.00.

Neurocrine Biosciences Stock Up 0.4 %

Shares of NBIX opened at $134.57 on Friday. The company has a 50-day simple moving average of $137.06 and a 200-day simple moving average of $135.05. The company has a market capitalization of $13.54 billion, a PE ratio of 37.07 and a beta of 0.36. Neurocrine Biosciences has a 52-week low of $93.02 and a 52-week high of $148.37.

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

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 in the company, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the sale, the director now owns 26,504 shares in the company, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,697 shares of company stock worth $11,975,615. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 220,598 shares during the period. Brown Advisory Inc. raised its stake in shares of 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 raised its stake in shares of Neurocrine Biosciences by 3.7% during the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after purchasing an additional 34,662 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after purchasing an additional 364,986 shares during the period. Finally, Vestal Point Capital LP purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $105,408,000. Hedge funds and other 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.