Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Average Recommendation of "Moderate Buy" from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-two ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $162.00.

A number of analysts have recently commented on the company. Piper Sandler restated an "overweight" rating and issued a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. HC Wainwright decreased their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Wall Street Zen lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the sale, the director now owns 514,596 shares of the company's stock, valued at approximately $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares in the company, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBIX. OneDigital Investment Advisors LLC increased its stake in Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after acquiring an additional 87 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank increased its position 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 purchasing an additional 97 shares during the last quarter. Utah Retirement Systems raised its holdings in Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after buying an additional 100 shares during the period. Finally, DE Burlo Group Inc. raised its holdings in Neurocrine Biosciences by 2.2% in the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after buying an additional 100 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 0.1%

NBIX traded down $0.12 on Friday, reaching $124.88. The stock had a trading volume of 807,029 shares, compared to its average volume of 1,144,706. The business's 50-day moving average price is $113.87 and its two-hundred day moving average price is $121.83. The company has a market cap of $12.36 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 1.28 and a beta of 0.24. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. Neurocrine Biosciences's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. As a group, analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has approved a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

About Neurocrine Biosciences

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.