Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by stock analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat reports. They currently have a $135.00 target price on the stock. Goldman Sachs Group’s price objective suggests a potential upside of 7.57% from the stock’s current price.
NBIX has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. TheStreet raised shares of Neurocrine Biosciences from a “c+” rating to a “b” rating in a research note on Wednesday, May 13th. Morgan Stanley dropped their price target on shares of Neurocrine Biosciences from $121.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Canaccord Genuity lifted their price target on shares of Neurocrine Biosciences from $123.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, William Blair reaffirmed a “buy” rating on shares of Neurocrine Biosciences in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Neurocrine Biosciences presently has a consensus rating of “Buy” and a consensus price target of $127.72.
Shares of NBIX stock opened at $125.50 on Monday. The company’s fifty day simple moving average is $121.18 and its 200-day simple moving average is $104.96. Neurocrine Biosciences has a 52 week low of $72.14 and a 52 week high of $131.00. The company has a current ratio of 6.90, a quick ratio of 6.75 and a debt-to-equity ratio of 0.71. The company has a market cap of $12.11 billion, a PE ratio of 68.21 and a beta of 1.32.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.26. Neurocrine Biosciences had a net margin of 19.90% and a return on equity of 37.53%. The business had revenue of $237.10 million for the quarter, compared to the consensus estimate of $226.29 million. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 71.3% compared to the same quarter last year. Equities research analysts expect that Neurocrine Biosciences will post 3.05 EPS for the current fiscal year.
In other news, insider Eiry Roberts sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the transaction, the insider now directly owns 14,416 shares of the company’s stock, valued at approximately $1,874,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Benevich sold 8,632 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $94.65, for a total transaction of $817,018.80. The disclosure for this sale can be found here. Insiders sold a total of 128,137 shares of company stock valued at $14,128,453 over the last ninety days. Company insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Neurocrine Biosciences by 6.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,969 shares of the company’s stock valued at $1,642,000 after buying an additional 1,073 shares during the period. Brinker Capital Inc. boosted its stake in Neurocrine Biosciences by 28.3% during the 1st quarter. Brinker Capital Inc. now owns 15,651 shares of the company’s stock valued at $1,355,000 after purchasing an additional 3,456 shares during the period. Trexquant Investment LP acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $5,457,000. Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $84,478,000. Finally, Legal & General Group Plc boosted its stake in Neurocrine Biosciences by 8.1% during the 1st quarter. Legal & General Group Plc now owns 282,505 shares of the company’s stock valued at $24,451,000 after purchasing an additional 21,196 shares during the period. 96.75% of the stock is owned by institutional investors and hedge funds.
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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