BidaskClub Upgrades Neurocrine Biosciences (NBIX) to “Hold”

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BidaskClub upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a sell rating to a hold rating in a report issued on Thursday morning.

Other equities analysts have also issued reports about the stock. Canaccord Genuity began coverage on shares of Neurocrine Biosciences in a report on Wednesday, November 21st. They issued a buy rating and a $111.00 price target on the stock. Oppenheimer set a $105.00 price target on shares of Neurocrine Biosciences and gave the stock a buy rating in a report on Tuesday, January 29th. Needham & Company LLC set a $104.00 price objective on shares of Neurocrine Biosciences and gave the company a buy rating in a report on Wednesday, December 12th. Robert W. Baird dropped their price objective on shares of Neurocrine Biosciences from $131.00 to $96.00 and set an outperform rating on the stock in a report on Thursday, December 13th. Finally, HC Wainwright reissued a buy rating and set a $162.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, December 13th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $102.56.

NASDAQ NBIX traded up $0.72 on Thursday, hitting $83.69. The stock had a trading volume of 48,263 shares, compared to its average volume of 992,142. The company has a current ratio of 8.36, a quick ratio of 8.24 and a debt-to-equity ratio of 0.81. Neurocrine Biosciences has a 52-week low of $64.72 and a 52-week high of $126.98. The firm has a market capitalization of $7.60 billion, a P/E ratio of 380.41, a P/E/G ratio of 29.63 and a beta of 1.86.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.06%. The business had revenue of $131.49 million for the quarter, compared to analyst estimates of $132.32 million. During the same period in the previous year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, sell-side analysts predict that Neurocrine Biosciences will post 0.11 earnings per share for the current fiscal year.

In related news, insider Kyle Gano sold 3,809 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $88.12, for a total transaction of $335,649.08. Following the completion of the transaction, the insider now directly owns 17,595 shares in the company, valued at $1,550,471.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Charles Gorman sold 7,614 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total transaction of $671,250.24. Following the transaction, the chief executive officer now owns 408,082 shares of the company’s stock, valued at $35,976,509.12. The disclosure for this sale can be found here. Insiders have sold 13,280 shares of company stock valued at $1,163,054 over the last 90 days. 4.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. Acadian Asset Management LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $32,000. Exane Derivatives raised its position in shares of Neurocrine Biosciences by 48,400.0% in the fourth quarter. Exane Derivatives now owns 485 shares of the company’s stock worth $35,000 after acquiring an additional 484 shares during the period. Rehmann Capital Advisory Group raised its position in shares of Neurocrine Biosciences by 54.7% in the third quarter. Rehmann Capital Advisory Group now owns 557 shares of the company’s stock worth $68,000 after acquiring an additional 197 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $86,000. Finally, Arbor Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $92,000.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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