Neurocrine Biosciences (NASDAQ:NBIX) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a hold rating in a research report sent to investors on Sunday.

NBIX has been the topic of several other reports. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Guggenheim increased their target price on Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.50.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $163.41 on Friday. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $186.12. The firm has a market capitalization of $16.61 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.39. The company’s fifty day moving average price is $168.49 and its two-hundred day moving average price is $147.56.

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 245,088 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director directly owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 395,422 shares of company stock worth $62,448,693 over the last ninety days. 4.60% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Large investors have recently made changes to their positions in the business. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the 4th quarter worth about $28,000. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Meeder Asset Management Inc. increased its position in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC raised its stake in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $33,000. Institutional investors own 92.59% of the company’s stock.

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.