BidaskClub upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a sell rating to a hold rating in a research report report published on Monday.
Other equities analysts have also issued reports about the company. Leerink Swann initiated coverage on Neurocrine Biosciences in a report on Monday, November 12th. They set a market perform rating and a $110.00 target price on the stock. ValuEngine lowered Neurocrine Biosciences from a strong-buy rating to a buy rating in a report on Thursday, November 15th. Cantor Fitzgerald set a $150.00 target price on Neurocrine Biosciences and gave the company a buy rating in a report on Monday, November 5th. Morgan Stanley cut their target price on Neurocrine Biosciences from $145.00 to $135.00 and set a buy rating on the stock in a report on Tuesday, November 6th. Finally, Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a report on Thursday, December 13th. They set a buy rating and a $103.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Neurocrine Biosciences currently has an average rating of Buy and a consensus price target of $104.62.
Shares of Neurocrine Biosciences stock traded up $0.95 during midday trading on Monday, hitting $85.22. The company’s stock had a trading volume of 21,879 shares, compared to its average volume of 1,180,378. The stock has a market cap of $7.75 billion, a PE ratio of -52.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18. Neurocrine Biosciences has a 1-year low of $64.72 and a 1-year high of $126.98.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Neurocrine Biosciences had a return on equity of 2.54% and a net margin of 2.40%. The business had revenue of $151.80 million during the quarter, compared to analyst estimates of $151.51 million. During the same period last year, the company earned ($0.13) earnings per share. Neurocrine Biosciences’s quarterly revenue was up 149.7% compared to the same quarter last year. As a group, research analysts anticipate that Neurocrine Biosciences will post 0.2 earnings per share for the current fiscal year.
In related news, insider Eiry Roberts sold 1,857 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, January 8th. The stock was sold at an average price of $84.09, for a total transaction of $156,155.13. Following the sale, the insider now directly owns 3,143 shares of the company’s stock, valued at $264,294.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $110.01, for a total value of $990,090.00. Following the sale, the insider now directly owns 21,018 shares in the company, valued at $2,312,190.18. The disclosure for this sale can be found here. Insiders sold 40,782 shares of company stock worth $4,360,346 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in NBIX. Strs Ohio acquired a new stake in Neurocrine Biosciences during the second quarter valued at approximately $214,000. FMR LLC raised its stake in shares of Neurocrine Biosciences by 0.5% in the second quarter. FMR LLC now owns 13,451,201 shares of the company’s stock valued at $1,321,446,000 after acquiring an additional 60,325 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Neurocrine Biosciences by 8.5% in the second quarter. Tocqueville Asset Management L.P. now owns 19,075 shares of the company’s stock valued at $1,874,000 after acquiring an additional 1,500 shares during the last quarter. Raymond James & Associates raised its stake in shares of Neurocrine Biosciences by 11.9% in the second quarter. Raymond James & Associates now owns 10,393 shares of the company’s stock valued at $1,021,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Neurocrine Biosciences in the second quarter valued at approximately $216,000. 96.62% of the stock is currently owned by institutional investors and hedge funds.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
Further Reading: Asset Allocation