Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given a consensus rating of “Moderate Buy” by the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $166.90.

A number of brokerages have recently commented on NBIX. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Canaccord Genuity Group decreased their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Barclays lifted their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd.

Neurocrine Biosciences Stock Down 1.6 %

Shares of NBIX stock opened at $115.02 on Friday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The firm has a market cap of $11.65 billion, a PE ratio of 34.96 and a beta of 0.33. The stock has a 50 day moving average of $137.83 and a 200-day moving average of $130.54.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. As a group, equities analysts predict that Neurocrine Biosciences will post 6.53 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at $338,445. This represents a 30.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,600 shares of company stock valued at $34,348,261 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently modified their holdings of NBIX. Vanguard Group Inc. increased its holdings in shares of Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after purchasing an additional 122,681 shares in the last quarter. State Street Corp increased its stake in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares during the period. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 2.9% during the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock valued at $258,926,000 after acquiring an additional 53,610 shares during the period. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $255,523,000 after acquiring an additional 15,830 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.