Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Neurocrine Biosciences has received a consensus rating of "Moderate Buy", with 17 analysts recommending a buy and 3 suggesting a hold.
• The stock's average 12-month price target among analysts is $160.26, while its current trading price is around $145.23.
• The company reported a quarterly earnings per share of $1.06, exceeding estimates by $0.08 and showcasing a revenue increase of 16.5% year-over-year.

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $161.8947.

NBIX has been the subject of a number of recent research reports. Needham & Company LLC upped their target price on Neurocrine Biosciences from $161.00 to $170.00 and gave the stock a "buy" rating in a report on Monday. UBS Group upped their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley upped their target price on Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 target price for the company. Finally, Wedbush upped their target price on Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st.

Insider Buying and Selling

In related news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares of the company's stock, valued at $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the transaction, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,960 shares of company stock valued at $23,955,553 over the last ninety days. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox grew its stake in Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company's stock worth $699,693,000 after purchasing an additional 32,190 shares during the period. JPMorgan Chase & Co. grew its stake in Neurocrine Biosciences by 59.6% during the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company's stock worth $535,659,000 after purchasing an additional 1,590,749 shares during the period. Wellington Management Group LLP grew its stake in Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock worth $232,037,000 after purchasing an additional 640,556 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Neurocrine Biosciences by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock worth $170,281,000 after purchasing an additional 49,088 shares during the period. Finally, AQR Capital Management LLC grew its stake in Neurocrine Biosciences by 40.5% during the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company's stock worth $189,794,000 after purchasing an additional 435,385 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $1.39 on Monday, hitting $146.62. 700,617 shares of the company's stock were exchanged, compared to its average volume of 780,732. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $154.61. The stock has a market cap of $14.54 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 1.05 and a beta of 0.28. The company has a 50 day moving average of $135.49 and a 200 day moving average of $122.43.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The business had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same period in the prior year, the company earned $1.63 EPS. Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

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.