Neurocrine Biosciences (NBIX) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a hold rating to a buy rating in a report released on Friday morning.

A number of other research analysts also recently issued reports on the stock. Bank of America reduced their price objective on shares of Neurocrine Biosciences from $124.00 to $117.00 and set a buy rating on the stock in a research report on Wednesday, February 6th. Cantor Fitzgerald reissued an overweight rating on shares of Neurocrine Biosciences in a research report on Wednesday, February 6th. HC Wainwright reissued a buy rating on shares of Neurocrine Biosciences in a research report on Wednesday, January 30th. Oppenheimer set a $105.00 price objective on shares of Neurocrine Biosciences and gave the company a buy rating in a research report on Tuesday, January 29th. Finally, Needham & Company LLC downgraded shares of Neurocrine Biosciences from a buy rating to a hold rating in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $102.28.

Shares of Neurocrine Biosciences stock opened at $84.65 on Friday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 384.77, a P/E/G ratio of 30.89 and a beta of 1.89. Neurocrine Biosciences has a 12-month low of $64.72 and a 12-month high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.05. The business had revenue of $131.49 million for the quarter, compared to the consensus estimate of $132.32 million. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.32%. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. As a group, equities research analysts predict that Neurocrine Biosciences will post 0.11 earnings per share for the current year.

In other news, 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 sale, the chief executive officer now owns 408,082 shares in the company, valued at approximately $35,976,509.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 4,124 shares of the business’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $91.37, for a total transaction of $376,809.88. Following the sale, the director now owns 29,512 shares in the company, valued at approximately $2,696,511.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,582 shares of company stock worth $1,645,884. Company insiders own 4.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NBIX. First Trust Advisors LP boosted its stake in Neurocrine Biosciences by 27.3% in the 4th quarter. First Trust Advisors LP now owns 1,299,455 shares of the company’s stock worth $92,794,000 after purchasing an additional 278,598 shares in the last quarter. Capital International Investors bought a new position in Neurocrine Biosciences in the 3rd quarter worth about $31,721,000. GW&K Investment Management LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth about $16,611,000. Victory Capital Management Inc. boosted its stake in Neurocrine Biosciences by 60.5% in the 3rd quarter. Victory Capital Management Inc. now owns 605,135 shares of the company’s stock worth $74,402,000 after purchasing an additional 228,163 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in Neurocrine Biosciences by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 7,772,236 shares of the company’s stock worth $955,597,000 after purchasing an additional 204,065 shares in the last quarter. Institutional investors own 97.90% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.

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