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

Key Points

• Neurocrine Biosciences, Inc. received an average rating of "Moderate Buy" from analysts, with 19 buy ratings compared to 3 hold ratings among the 22 firms covering the stock.
• The average target price set by analysts for Neurocrine Biosciences is $160.90, with varying estimates including a high of $175.00 from Guggenheim.
• Insider trading activity included significant sales by directors, with one selling 9,613 shares for over $1.15 million and another selling 30,000 shares for around $3.3 million.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-two research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $160.90.

NBIX has been the subject of several research reports. Royal Bank Of Canada reduced their price objective on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research note on Thursday. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. Stifel Nicolaus boosted their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday. Evercore ISI decreased their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday.

Neurocrine Biosciences Stock Up 0.5%

Neurocrine Biosciences stock traded up $0.68 during midday trading on Friday, hitting $128.91. The company's stock had a trading volume of 1,395,006 shares, compared to its average volume of 970,956. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $157.40. The stock's 50-day moving average price is $128.26 and its 200-day moving average price is $120.88. The company has a market capitalization of $12.79 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 1.11 and a beta of 0.25.

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

Insider Activity

In related news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the transaction, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider owned 18,289 shares in the company, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,251 shares of company stock worth $14,978,602. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dodge & Cox lifted its position in Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the period. Wellington Management Group LLP increased its stake in Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after acquiring an additional 640,556 shares during the period. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 2.9% in the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock worth $258,926,000 after purchasing an additional 53,610 shares in the last quarter. Geode Capital Management LLC raised its position in Neurocrine Biosciences by 0.9% in the fourth 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. Finally, Price T Rowe Associates Inc. MD lifted 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. Institutional investors and hedge funds own 92.59% of the company's stock.

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.