Zacks Research Downgrades Neurocrine Biosciences (NASDAQ:NBIX) to Strong Sell

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on NBIX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Thursday, January 22nd. HC Wainwright lowered their price target on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. BMO Capital Markets dropped their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Wells Fargo & Company decreased their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Canaccord Genuity Group upped their target price on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Sixteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.84.

Neurocrine Biosciences Trading Up 0.5%

Shares of NBIX opened at $128.38 on Tuesday. The firm has a market cap of $12.88 billion, a P/E ratio of 27.55, a PEG ratio of 0.65 and a beta of 0.31. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The stock’s 50 day moving average is $138.43 and its two-hundred day moving average is $140.34.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter last year, the business earned $1.69 EPS. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Equities research analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 1,190 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total transaction of $184,557.10. Following the completion of the transaction, the director owned 6,239 shares of the company’s stock, valued at approximately $967,606.51. This trade represents a 16.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the sale, the insider owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This trade represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,966 shares of company stock worth $8,625,166 in the last three months. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently modified their holdings of NBIX. USA Financial Formulas acquired a new position in Neurocrine Biosciences during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. Eastern Bank acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $27,000. Finally, DJE Kapital AG purchased a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $28,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.