Neurocrine Biosciences (NASDAQ:NBIX) Rating Lowered to "Buy" at StockNews.com

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Friday.

Other equities analysts have also issued reports about the company. Barclays reduced their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating on the stock in a research report on Monday, September 9th. Guggenheim increased their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a report on Tuesday. Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating for the company in a research note on Friday, October 4th. Finally, Morgan Stanley boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $163.91.

Neurocrine Biosciences Trading Up 1.6 %

Shares of NBIX stock traded up $1.94 during trading hours on Friday, hitting $122.21. 1,512,407 shares of the company's stock were exchanged, compared to its average volume of 863,768. The company has a market capitalization of $12.34 billion, a PE ratio of 32.76 and a beta of 0.36. Neurocrine Biosciences has a 12-month low of $103.63 and a 12-month high of $157.98. The business's 50 day simple moving average is $119.77 and its 200-day simple moving average is $133.49.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.23). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. The business had revenue of $622.10 million during the quarter, compared to analysts' expectations of $604.11 million. Equities analysts anticipate that Neurocrine Biosciences will post 4.37 EPS for the current year.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated 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 directly owns 37,491 shares of the company's stock, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ingrid Delaet sold 273 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now directly owns 6,607 shares of the company's stock, valued at $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares of the company's stock, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,336 shares of company stock valued at $7,063,652. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. lifted its position in Neurocrine Biosciences by 1,370.7% during the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company's stock valued at $74,507,000 after purchasing an additional 504,400 shares during the period. AQR Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company's stock worth $166,959,000 after buying an additional 228,444 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company's stock worth $1,369,673,000 after acquiring an additional 220,598 shares during the period. Iron Triangle Partners LP purchased a new stake in Neurocrine Biosciences during the first quarter valued at $30,342,000. Finally, Renaissance Technologies LLC lifted its holdings in Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company's stock valued at $339,790,000 after acquiring an additional 216,500 shares during the period. 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.

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