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

Key Points

• Consensus "Moderate Buy": Neurocrine has a consensus recommendation of Moderate Buy from 22 analysts (16 Buy, 5 Hold, 1 Strong Buy) with an average 12‑month target of $180.45.
• Analyst upgrades and higher targets: Several brokers have raised their targets recently, notably Citigroup to $242, while Wall Street Zen upgraded the stock to a "Strong‑Buy."
• Recent results show EPS of $1.88 missed estimates of $2.36 but revenue rose 28.3% year‑over‑year to $805.5M; the stock trades around $134 with a market cap of $13.48B, P/E 28.77, 52‑week range $108.35–$160.18, and institutional ownership of about 92.6%.

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-two research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $180.45.

Several equities research analysts have commented on the company. Citigroup upped their price target on Neurocrine Biosciences from $204.00 to $242.00 and gave the stock a "buy" rating in a research note on Tuesday, April 7th. Needham & Company LLC reissued a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Wolfe Research assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an "outperform" rating and a $160.00 target price on the stock. Leerink Partners increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. USA Financial Formulas acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. grew its holdings in 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 acquiring an additional 135 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company's stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth about $27,000. Finally, DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 1.7%

Neurocrine Biosciences stock opened at $134.07 on Tuesday. The stock has a fifty day moving average price of $130.25 and a 200 day moving average price of $137.74. Neurocrine Biosciences has a 52 week low of $108.35 and a 52 week high of $160.18. The firm has a market capitalization of $13.48 billion, a P/E ratio of 28.77, a PEG ratio of 0.69 and a beta of 0.34.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.48% and a net margin of 16.73%.The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. During the same period in the previous year, the business posted $1.69 earnings per share. The firm's quarterly revenue was up 28.3% on a year-over-year basis. As a group, equities analysts predict that Neurocrine Biosciences will post 6.33 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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