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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $165.38.

Several research firms have weighed in on NBIX. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Wedbush lowered their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Bank of America lowered their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Guggenheim cut their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. Bank of Montreal Can lifted its position in shares of Neurocrine Biosciences by 40.4% in the 3rd quarter. Bank of Montreal Can now owns 55,244 shares of the company’s stock worth $6,356,000 after purchasing an additional 15,893 shares during the period. Quantbot Technologies LP bought a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $89,000. Verition Fund Management LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $959,000. PDT Partners LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $1,717,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Neurocrine Biosciences by 12.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 736,910 shares of the company’s stock valued at $84,907,000 after purchasing an additional 80,792 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 0.7 %

Shares of NASDAQ NBIX opened at $113.16 on Monday. Neurocrine Biosciences has a 12-month low of $105.18 and a 12-month high of $157.98. The company has a market cap of $11.28 billion, a PE ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50 day simple moving average of $124.17 and a 200-day simple moving average of $124.96.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Sell-side analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.