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

Key Points

• Consensus "Moderate Buy": Twenty-two analysts cover NBIX (16 buy, 1 strong buy, 4 hold, 1 sell) and the average 12‑month price target is $180.70.
• Insider sale: CEO Kyle Gano sold 36,400 shares at an average of $132.70 for ~$4.83 million, reducing his holding by 20.59%; corporate insiders own 4.80% of the stock.
• Quarterly results: Neurocrine reported EPS of $1.88 (miss vs. $2.36 est.) while revenue was $805.5M (beat $804.2M), up 28.3% year‑over‑year; the company has a market cap of $13.21B and a P/E of 28.25.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-two research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $180.70.

A number of research firms have recently commented on NBIX. Truist Financial cut their target price on Neurocrine Biosciences from $169.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday. HC Wainwright upped their target price on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Zacks Research cut Neurocrine Biosciences from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 17th.

Insider Activity at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the company's stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares of the company's stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Golden State Wealth Management LLC grew its stake in Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company's stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank bought a new position in Neurocrine Biosciences in the third quarter worth approximately $27,000. DJE Kapital AG bought a new position in Neurocrine Biosciences in the fourth quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. grew its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $131.64 on Friday. Neurocrine Biosciences has a 1 year low of $87.70 and a 1 year high of $160.18. The stock's 50 day simple moving average is $131.31 and its two-hundred day simple moving average is $138.81. The company has a market cap of $13.21 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million for the quarter, compared to analysts' expectations of $804.21 million. During the same quarter last year, the company earned $1.69 earnings per share. The company's revenue for the quarter was up 28.3% on a year-over-year basis. Equities research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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