Neurocrine Biosciences (NASDAQ:NBIX) Rating Increased to Hold at Mizuho

Mizuho upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) to a hold rating in a research note issued to investors on Wednesday,Zacks reports.

NBIX has been the topic of a number of other research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $198.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, September 8th. Citigroup raised their price objective on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Weiss Ratings downgraded Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Wall Street Zen lowered Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $201.09.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $151.83 on Wednesday. The company has a fifty day moving average price of $162.42 and a two-hundred day moving average price of $152.00. Neurocrine Biosciences has a one year low of $122.14 and a one year high of $186.12. The stock has a market cap of $15.43 billion, a P/E ratio of 22.26, a P/E/G ratio of 0.70 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 7.26 EPS for the current fiscal year.

Insider Activity

In related news, insider David W. Boyer sold 826 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.45, for a total value of $130,053.70. Following the transaction, the insider directly owned 8,722 shares in the company, valued at approximately $1,373,278.90. This represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ingrid Delaet sold 8,433 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at $2,899,732. This trade represents a 34.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 43,325 shares of company stock worth $7,611,976. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC raised its position in shares of Neurocrine Biosciences by 31.0% in the second quarter. Sequoia Financial Advisors LLC now owns 6,351 shares of the company’s stock valued at $1,070,000 after buying an additional 1,502 shares in the last quarter. Tidal Investments LLC grew its position in Neurocrine Biosciences by 186.7% during the second quarter. Tidal Investments LLC now owns 81,460 shares of the company’s stock worth $13,729,000 after buying an additional 53,045 shares in the last quarter. WINTON GROUP Ltd bought a new position in Neurocrine Biosciences during the 2nd quarter worth $270,000. Engineers Gate Manager LP increased its stake in Neurocrine Biosciences by 64.0% during the 2nd quarter. Engineers Gate Manager LP now owns 18,361 shares of the company’s stock worth $3,094,000 after acquiring an additional 7,163 shares during the period. Finally, RFG Advisory LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at $1,381,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.