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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) have been assigned an average rating of “Moderate Buy” from the twenty analysts that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $122.24.

A number of research analysts have issued reports on NBIX shares. BMO Capital Markets boosted their price target on Neurocrine Biosciences from $78.00 to $101.00 in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $138.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday, November 3rd. Wells Fargo & Company boosted their price target on Neurocrine Biosciences from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 2nd. SVB Leerink boosted their price target on Neurocrine Biosciences from $100.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 2nd. Finally, UBS Group started coverage on Neurocrine Biosciences in a research report on Tuesday, October 11th. They set a “buy” rating and a $136.00 price target for the company.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $111.36 on Friday. The company has a market cap of $10.71 billion, a P/E ratio of 195.37 and a beta of 0.54. The stock has a fifty day moving average price of $117.93 and a 200 day moving average price of $109.84. Neurocrine Biosciences has a 12 month low of $72.28 and a 12 month high of $129.29.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). The company had revenue of $387.90 million for the quarter, compared to the consensus estimate of $378.05 million. Neurocrine Biosciences had a return on equity of 4.06% and a net margin of 4.19%. As a group, research analysts anticipate that Neurocrine Biosciences will post 1.93 earnings per share for the current year.

Insider Activity

In other news, insider Darin Lippoldt sold 4,923 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $115.04, for a total transaction of $566,341.92. Following the completion of the sale, the insider now directly owns 29,234 shares of the company’s stock, valued at $3,363,079.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gary A. Lyons sold 15,000 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $114.76, for a total transaction of $1,721,400.00. Following the completion of the sale, the director now directly owns 203,697 shares of the company’s stock, valued at $23,376,267.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Darin Lippoldt sold 4,923 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $115.04, for a total value of $566,341.92. Following the sale, the insider now directly owns 29,234 shares of the company’s stock, valued at $3,363,079.36. The disclosure for this sale can be found here. Insiders sold a total of 139,534 shares of company stock valued at $17,059,059 over the last three months. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in Neurocrine Biosciences during the first quarter valued at $27,000. Covestor Ltd raised its position in Neurocrine Biosciences by 431.0% during the first quarter. Covestor Ltd now owns 377 shares of the company’s stock valued at $35,000 after buying an additional 306 shares during the period. Piershale Financial Group Inc. acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $36,000. C M Bidwell & Associates Ltd. acquired a new position in Neurocrine Biosciences in the 3rd quarter worth about $45,000. Finally, CENTRAL TRUST Co purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth about $45,000. 92.58% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.