Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Rating of “Moderate Buy” by Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Five 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 target price among analysts that have covered the stock in the last year is $165.24.

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Bank of America dropped 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 Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group decreased their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Royal Bank of Canada cut their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 2,558 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 234,269 shares of company stock valued at $34,053,879 in the last 90 days. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after buying an additional 122,681 shares during the period. State Street Corp grew its holdings in Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares during the period. Dodge & Cox increased its stake in shares of Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock valued at $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 2.9% during the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock valued at $258,926,000 after purchasing an additional 53,610 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after purchasing an additional 15,830 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.7 %

NASDAQ:NBIX opened at $109.07 on Thursday. The stock has a market cap of $10.87 billion, a P/E ratio of 33.15, a PEG ratio of 0.77 and a beta of 0.35. The business’s 50-day moving average price is $130.81 and its two-hundred day moving average price is $126.29. Neurocrine Biosciences has a twelve month low of $105.18 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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%. On average, equities research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a share repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is 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.