Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-two ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $162.00.

Several brokerages recently weighed in on NBIX. Royal Bank of Canada increased their price objective on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 price objective for the company. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. HC Wainwright decreased their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Wedbush reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after buying an additional 135 shares during the last quarter. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $32,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NBIX traded up $1.06 during midday trading on Tuesday, hitting $120.18. The company had a trading volume of 882,158 shares, compared to its average volume of 1,136,268. The company has a market capitalization of $11.89 billion, a PE ratio of 36.53, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.98. The firm's 50-day simple moving average is $108.14 and its 200-day simple moving average is $121.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same quarter in the previous year, the business earned $1.20 earnings per share. Neurocrine Biosciences's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share buyback program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management 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.