Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $174.25 Consensus PT from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $174.25.

Several brokerages have weighed in on NBIX. Citigroup increased their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Needham & Company LLC upped their price objective on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Morgan Stanley restated an “equal weight” rating and set a $175.00 price target (up previously from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Finally, HC Wainwright upped their price target on Neurocrine Biosciences from $168.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th.

Neurocrine Biosciences Stock Down 0.5%

NASDAQ NBIX opened at $133.89 on Friday. The company has a 50-day simple moving average of $143.33 and a two-hundred day simple moving average of $140.24. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $160.18. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 0.71 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Rastetter sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the sale, the director owned 40,360 shares in the company, valued at $6,127,455.20. The trade was a 30.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,266 shares of company stock valued at $11,400,517 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NBIX. USA Financial Formulas bought a new position in Neurocrine Biosciences in the 4th quarter worth $25,000. Geneos Wealth Management Inc. raised its holdings in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Eastern Bank bought a new position in shares of Neurocrine Biosciences in the third quarter worth about $27,000. Finally, Quent Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth about $32,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.