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

Key Points

• Neurocrine Biosciences has received an average recommendation of "Moderate Buy" from analysts, with sixteen rating it a buy and four a hold.
• The company's stock has a 12-month price target of approximately $163.44, reflecting analysts' bullish outlook.
• Insider transactions revealed that Director Kevin Charles Gorman sold over 106,000 shares at an average price of $126.41, marking a 17.12% decrease in his holdings.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $163.4444.

NBIX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their price target on shares of Neurocrine Biosciences from $161.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st.

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares in the company, valued at $65,050,080.36. This trade represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dodge & Cox lifted its holdings in Neurocrine Biosciences by 0.6% during the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company's stock valued at $699,693,000 after buying an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Neurocrine Biosciences by 59.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company's stock valued at $535,659,000 after buying an additional 1,590,749 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after purchasing an additional 640,556 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Neurocrine Biosciences by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock valued at $170,281,000 after purchasing an additional 49,088 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 40.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company's stock valued at $189,794,000 after purchasing an additional 435,385 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 0.2%

NBIX stock opened at $137.52 on Friday. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $154.61. The company has a 50-day moving average price of $138.35 and a 200 day moving average price of $125.73. The stock has a market cap of $13.64 billion, a PE ratio of 40.69, a P/E/G ratio of 0.99 and a beta of 0.21.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.