Zacks Investment Research Lowers Neurocrine Biosciences (NBIX) to Hold

Zacks Investment Research lowered shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a hold rating in a research note released on Saturday morning.

According to Zacks, “Neurocrine Biosciences is a neuroscience-based company focused on the discovery and development of novel therapeutics for neuropsychiatric, neuroinflammatory and neurodegenerative diseases and disorders. The company’s neuroscience, endocrine and immunology disciplines provide a unique biological understanding of the molecular interaction between central nervous, immune and endocrine systems for the development of therapeutic interventions for anxiety, depression, insomnia, stroke, malignant brain tumors, multiple sclerosis, obesity and diabetes. “

NBIX has been the topic of a number of other reports. Cantor Fitzgerald set a $150.00 price target on shares of Neurocrine Biosciences and gave the stock a buy rating in a research report on Wednesday, December 5th. Bank of America reduced their price target 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. Leerink Swann assumed coverage on shares of Neurocrine Biosciences in a report on Monday, November 12th. They issued a market perform rating and a $110.00 price objective on the stock. HC Wainwright reaffirmed a buy rating and issued a $102.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, January 15th. Finally, BidaskClub cut shares of Neurocrine Biosciences from a hold rating to a sell rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $102.28.

Neurocrine Biosciences stock opened at $84.65 on Friday. Neurocrine Biosciences has a 1 year low of $64.72 and a 1 year high of $126.98. The stock has a market capitalization of $7.63 billion, a PE ratio of 384.77, a price-to-earnings-growth ratio of 30.89 and a beta of 1.89.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.05. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.32%. The company had revenue of $131.49 million for the quarter, compared to the consensus estimate of $132.32 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, research analysts anticipate that Neurocrine Biosciences will post 0.11 earnings per share for the current year.

In other Neurocrine Biosciences news, Director Richard F. Pops sold 4,124 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $91.37, for a total transaction of $376,809.88. Following the transaction, the director now owns 29,512 shares of the company’s stock, valued at approximately $2,696,511.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eiry Roberts sold 1,857 shares of the firm’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $84.09, for a total transaction of $156,155.13. Following the transaction, the insider now directly owns 3,143 shares in the company, valued at approximately $264,294.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,582 shares of company stock worth $1,645,884. 4.30% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $32,000. Exane Derivatives grew its stake in shares of Neurocrine Biosciences by 48,400.0% in the 4th quarter. Exane Derivatives now owns 485 shares of the company’s stock worth $35,000 after purchasing an additional 484 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Neurocrine Biosciences by 54.7% in the 3rd quarter. Rehmann Capital Advisory Group now owns 557 shares of the company’s stock worth $68,000 after purchasing an additional 197 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $127,000. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Neurocrine Biosciences in the third quarter worth about $127,000. 97.90% of the stock is currently owned by hedge funds and other institutional investors.

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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