Neurocrine Biosciences (NASDAQ:NBIX) Rating Lowered to “Strong Sell” at Zacks Research

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

Other research analysts have also issued reports about the company. BMO Capital Markets reduced 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. Mizuho lifted their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. UBS Group decreased their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Wedbush raised their price target on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Stifel Nicolaus boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.84.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $128.38 on Tuesday. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $160.18. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31. The company’s 50-day simple moving average is $138.43 and its two-hundred day simple moving average is $140.34.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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). The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. Equities analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the transaction, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 61,966 shares of company stock worth $8,625,166. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of NBIX. Dodge & Cox grew its position in Neurocrine Biosciences by 0.6% during the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after purchasing an additional 32,190 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after buying an additional 468,405 shares during the last quarter. AQR Capital Management LLC grew its holdings in Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after acquiring an additional 498,058 shares during the period. Geode Capital Management LLC raised its position in Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after acquiring an additional 34,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after acquiring an additional 88,522 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.