Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Consensus Rating of “Buy” by Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned an average recommendation of “Buy” from the twenty-one research firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $136.69.

Several brokerages have recently commented on NBIX. TheStreet upgraded Neurocrine Biosciences from a “c+” rating to a “b” rating in a report on Wednesday, May 13th. Mizuho raised their price target on Neurocrine Biosciences from $105.00 to $127.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Zacks Investment Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a report on Wednesday, July 15th. Royal Bank of Canada raised their price target on Neurocrine Biosciences from $116.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their price target on Neurocrine Biosciences from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Thursday, June 18th.

Neurocrine Biosciences stock traded down $1.36 during mid-day trading on Tuesday, hitting $120.36. 640,983 shares of the company were exchanged, compared to its average volume of 667,582. The business has a fifty day moving average of $126.27 and a 200 day moving average of $107.84. The company has a quick ratio of 6.75, a current ratio of 6.90 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $11.18 billion, a PE ratio of 51.66 and a beta of 1.34. Neurocrine Biosciences has a 1-year low of $72.14 and a 1-year high of $136.26.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $237.10 million for the quarter, compared to analysts’ expectations of $226.29 million. Neurocrine Biosciences had a return on equity of 37.53% and a net margin of 19.90%. The business’s revenue for the quarter was up 71.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. Research analysts expect that Neurocrine Biosciences will post 3.06 earnings per share for the current year.

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 15,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $110.21, for a total value of $1,653,150.00. Following the transaction, the chief financial officer now owns 20,953 shares of the company’s stock, valued at $2,309,230.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darin Lippoldt sold 1,657 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.02, for a total value of $225,385.14. Following the sale, the insider now directly owns 27,678 shares in the company, valued at approximately $3,764,761.56. The disclosure for this sale can be found here. Insiders sold 96,894 shares of company stock worth $11,119,097 in the last three months. Insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. raised its position in shares of Neurocrine Biosciences by 76.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 247 shares of the company’s stock worth $30,000 after purchasing an additional 107 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth about $42,000. Evolution Wealth Advisors LLC raised its position in shares of Neurocrine Biosciences by 33.2% during the first quarter. Evolution Wealth Advisors LLC now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 126 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth about $61,000. Finally, Acadian Asset Management LLC raised its position in shares of Neurocrine Biosciences by 153.5% during the first quarter. Acadian Asset Management LLC now owns 1,128 shares of the company’s stock worth $98,000 after purchasing an additional 683 shares during the period. 96.93% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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