StockNews.com Downgrades Neurocrine Biosciences (NASDAQ:NBIX) to Buy

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

NBIX has been the subject of a number of other reports. Wedbush reduced their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Stock Performance

NBIX opened at $115.02 on Tuesday. The company has a market cap of $11.65 billion, a PE ratio of 34.96 and a beta of 0.33. The stock has a 50-day moving average of $137.55 and a 200-day moving average of $130.19. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. On average, research analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now directly owns 517,030 shares in the company, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Julie Cooke sold 1,551 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the sale, the insider now owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,600 shares of company stock worth $34,348,261. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Neurocrine Biosciences by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company’s stock valued at $146,068,000 after purchasing an additional 175,879 shares in the last quarter. Worldquant Millennium Advisors LLC raised its stake in Neurocrine Biosciences by 44.1% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 154,852 shares of the company’s stock worth $21,137,000 after buying an additional 47,370 shares during the period. Triglav Skladi D.O.O. bought a new position in Neurocrine Biosciences during the fourth quarter worth about $1,502,000. Teza Capital Management LLC grew its stake in Neurocrine Biosciences by 4.5% in the fourth quarter. Teza Capital Management LLC now owns 17,864 shares of the company’s stock valued at $2,438,000 after acquiring an additional 765 shares during the period. Finally, Strategic Global Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 4.2% in the fourth quarter. Strategic Global Advisors LLC now owns 20,521 shares of the company’s stock worth $2,801,000 after acquiring an additional 827 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.