Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Average Rating of "Moderate Buy" from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-three analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $165.24.

A number of equities analysts have issued reports on NBIX shares. Guggenheim cut their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Barclays boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd. Finally, William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th.

Neurocrine Biosciences Price Performance

NBIX traded up $0.38 during midday trading on Thursday, reaching $113.04. 1,650,716 shares of the company's stock were exchanged, compared to its average volume of 1,346,984. The stock has a market capitalization of $11.27 billion, a PE ratio of 34.36, a P/E/G ratio of 0.77 and a beta of 0.35. The business's 50-day moving average price is $132.47 and its 200 day moving average price is $127.19. Neurocrine Biosciences has a 1-year low of $110.25 and a 1-year high of $157.98.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. As a group, analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 146,105 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the transaction, the director now directly owns 514,596 shares of the company's stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 272 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 234,269 shares of company stock valued at $34,053,879 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently bought and sold shares of the stock. Caprock Group LLC acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $236,000. Plato Investment Management Ltd increased its stake in Neurocrine Biosciences by 2,481.9% during the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company's stock valued at $1,263,000 after buying an additional 10,548 shares during the period. Swiss National Bank increased its stake in Neurocrine Biosciences by 1.4% during the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company's stock valued at $34,416,000 after buying an additional 4,100 shares during the period. Tri Ri Asset Management Corp acquired a new position in Neurocrine Biosciences during the 3rd quarter valued at about $3,236,000. Finally, KBC Group NV increased its stake in Neurocrine Biosciences by 78.3% during the 3rd quarter. KBC Group NV now owns 18,972 shares of the company's stock valued at $2,186,000 after buying an additional 8,332 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

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.