Neurocrine Biosciences (NASDAQ:NBIX) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a strong-buy rating to a buy rating in a research note released on Friday morning.

NBIX has been the subject of several other reports. Jefferies Financial Group raised their target price on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research report on Friday. Finally, Raymond James reissued an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded up $1.94 during trading hours on Friday, reaching $122.21. The stock had a trading volume of 1,512,407 shares, compared to its average volume of 863,768. The stock has a market cap of $12.34 billion, a PE ratio of 32.76 and a beta of 0.36. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98. The company has a fifty day simple moving average of $119.77 and a 200-day simple moving average of $133.49.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, October 30th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.23). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. The company had revenue of $622.10 million during the quarter, compared to analysts’ expectations of $604.11 million. Research analysts predict that Neurocrine Biosciences will post 4.37 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, Director Gary A. Lyons sold 11,570 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total value of $1,740,475.10. Following the completion of the sale, the director now directly owns 119,047 shares in the company, valued at $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the sale, the director now directly owns 119,047 shares in the company, valued at approximately $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,336 shares of company stock worth $7,063,652 over the last three months. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Neurocrine Biosciences by 11.5% during the third quarter. Covestor Ltd now owns 1,779 shares of the company’s stock valued at $205,000 after purchasing an additional 183 shares in the last quarter. 17 Capital Partners LLC lifted its holdings in Neurocrine Biosciences by 97.2% during the third quarter. 17 Capital Partners LLC now owns 5,846 shares of the company’s stock valued at $674,000 after purchasing an additional 2,881 shares in the last quarter. Assetmark Inc. lifted its holdings in Neurocrine Biosciences by 10.6% during the third quarter. Assetmark Inc. now owns 18,323 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,753 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new stake in Neurocrine Biosciences during the third quarter valued at $5,521,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at about $3,588,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.