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

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms have also issued reports on NBIX. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Wedbush cut their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group reduced their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Guggenheim dropped their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Morgan Stanley lifted their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $115.02 on Tuesday. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The company has a market cap of $11.65 billion, a P/E ratio of 34.96 and a beta of 0.33. The stock’s 50-day simple moving average is $137.55 and its 200 day simple moving average is $130.19.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. As a group, equities analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now owns 521,618 shares of the company’s stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,600 shares of company stock worth $34,348,261. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dodge & Cox boosted its stake in shares of Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock valued at $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. Raymond James Financial Inc. bought a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $115,193,000. Wellington Management Group LLP lifted its stake in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock valued at $198,939,000 after purchasing an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Neurocrine Biosciences by 2,759.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock valued at $100,705,000 after buying an additional 711,970 shares in the last quarter. Finally, Orbimed Advisors LLC grew its stake in shares of Neurocrine Biosciences by 210.4% during the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company’s stock worth $128,053,000 after buying an additional 635,900 shares during the last quarter. 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.