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

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Tuesday.

A number of other equities research analysts also recently weighed in on NBIX. Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays lifted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Royal Bank of Canada reduced their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $166.90.

Neurocrine Biosciences Trading Up 3.9 %

NBIX traded up $4.58 on Tuesday, hitting $120.69. 1,960,408 shares of the stock traded hands, compared to its average volume of 1,340,164. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The firm has a market capitalization of $12.03 billion, a PE ratio of 36.68, a P/E/G ratio of 0.76 and a beta of 0.33. The business has a fifty day moving average price of $136.75 and a two-hundred day moving average price of $129.71.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company's stock, valued at $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,600 shares of company stock worth $34,348,261. Insiders own 4.30% of the company's stock.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently made changes to their positions in the company. Forum Financial Management LP bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $254,000. Peak Retirement Planning Inc. bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $1,029,000. Toronto Dominion Bank increased its position in shares of Neurocrine Biosciences by 3.9% in the 4th quarter. Toronto Dominion Bank now owns 13,183 shares of the company's stock valued at $1,799,000 after buying an additional 499 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $290,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Neurocrine Biosciences by 19.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock valued at $146,068,000 after buying an additional 175,879 shares in the last quarter. Institutional investors 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.