Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Recommendation of "Moderate Buy" by Brokerages
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received an average recommendation of "Moderate Buy" from 22 analysts. Nineteen analysts rated it as a buy, while three rated it as hold. The average 12-month target price is $162.00. Recent price targets include $115.00 from BMO Capital Markets and $152.00 from UBS Group. Insiders have sold shares recently, and institutional investors hold 92.59% of the stock. The stock opened at $128.74, with a market cap of $12.74 billion and a P/E ratio of 43.64.
Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $162.00.
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NBIX has been the topic of several recent research reports. BMO Capital Markets upped their price objective on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. HC Wainwright lowered their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wedbush reissued an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. UBS Group lifted their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Guggenheim raised their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th.
Get Our Latest Stock Analysis on Neurocrine Biosciences
Insiders Place Their Bets
- Bristol Myers Squibb’s big buys: $18.1 billion in 2 biotech deals
In other news, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the sale, the director owned 514,596 shares in the company, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,975 shares of company stock worth $7,112,920 over the last quarter. 4.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank lifted its holdings in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after acquiring an additional 135 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after acquiring an additional 102 shares in the last quarter. WPG Advisers LLC purchased a new position in Neurocrine Biosciences in the first quarter valued at about $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter valued at approximately $34,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
Neurocrine Biosciences Trading Up 0.7%
- Is Mid-Cap Neurocrine Biosciences A Buy After Blowout Q3 Report?
NASDAQ:NBIX opened at $128.74 on Wednesday. The company has a market capitalization of $12.74 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 1.31 and a beta of 0.24. The firm has a 50-day moving average price of $122.20 and a two-hundred day moving average price of $121.53. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.98.
Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, equities research analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.
About Neurocrine Biosciences
(Get Free ReportNeurocrine 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.
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