Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Neurocrine Biosciences from “buy” to “hold,” while Zacks Research also lowered its rating. Despite these downgrades, the broader analyst consensus remains “Moderate Buy,” with an average price target of $201.50.
• NBIX shares opened at $163.41, with a market capitalization of approximately $16.61 billion and a 52-week trading range of $122.14 to $186.12.
• Company insiders have sold 395,422 shares worth about $62.4 million over the past three months, while institutional investors own a substantial 92.59% of the stock.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

A number of other research firms have also weighed in on NBIX. Zacks Research lowered Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Stifel Nicolaus raised their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Guggenheim upped their price target on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Leerink Partners increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets boosted their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a "market perform" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $201.50.

Neurocrine Biosciences Stock Up 2.2%

Shares of NBIX opened at $163.41 on Friday. The stock has a market cap of $16.61 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.39. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $186.12. The firm's fifty day moving average is $168.49 and its two-hundred day moving average is $147.45.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Darin Lippoldt sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the sale, the insider directly owned 54,729 shares of the company's stock, valued at $9,829,328.40. This represents a 15.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the sale, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 395,422 shares of company stock valued at $62,448,693 over the last three months. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently modified their holdings of the stock. Meeder Advisory Services Inc. acquired a new stake in shares of Neurocrine Biosciences in the second quarter valued at $243,000. Citizens Financial Group Inc. RI acquired a new position in Neurocrine Biosciences during the 2nd quarter worth $716,000. Grandfield & Dodd LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth $2,808,000. BlackRock Inc. purchased a new stake in Neurocrine Biosciences during the 2nd quarter worth about $2,310,886,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Neurocrine Biosciences during the 2nd quarter worth about $1,561,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

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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