Evercore ISI Begins Coverage on Neurocrine Biosciences (NASDAQ:NBIX)

Evercore ISI initiated coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Thursday, April 11th, Benzinga’s Daily Ratings Newsletter reports. The firm issued an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Neurocrine Biosciences from a hold rating to a strong-buy rating and set a $105.00 price target for the company in a research report on Wednesday, April 10th. Barclays restated a buy rating and set a $110.00 price target on shares of Neurocrine Biosciences in a research report on Friday, March 29th. Oppenheimer set a $105.00 price objective 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 stock a buy rating in a report on Wednesday, December 12th. Finally, Robert W. Baird reduced their price objective on shares of Neurocrine Biosciences from $131.00 to $96.00 and set an outperform rating for the company in a report on Thursday, December 13th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Neurocrine Biosciences presently has a consensus rating of Buy and an average target price of $103.23.

Neurocrine Biosciences stock opened at $78.97 on Thursday. The stock has a market cap of $7.21 billion, a PE ratio of 358.95 and a beta of 1.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.79 and a quick ratio of 8.24. Neurocrine Biosciences has a one year low of $64.72 and a one year high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, April 29th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The firm had revenue of $138.40 million for the quarter, compared to the consensus estimate of $136.77 million. Neurocrine Biosciences had a negative return on equity of 9.14% and a negative net margin of 7.56%. The firm’s revenue was up 94.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) EPS. Equities research analysts predict that Neurocrine Biosciences will post -0.1 EPS for the current year.

In other Neurocrine Biosciences news, insider Kyle Gano sold 3,809 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $88.12, for a total value of $335,649.08. Following the completion of the sale, the insider now directly owns 17,595 shares of the company’s stock, valued at approximately $1,550,471.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Charles Gorman sold 7,614 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total transaction of $671,250.24. Following the completion of the sale, the chief executive officer now directly owns 408,082 shares of the company’s stock, valued at $35,976,509.12. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. Prudential Financial Inc. raised its holdings in Neurocrine Biosciences by 479.0% during the 3rd quarter. Prudential Financial Inc. now owns 26,460 shares of the company’s stock worth $3,253,000 after buying an additional 21,890 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth about $366,000. Standard Life Aberdeen plc acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth about $16,815,000. Hsbc Holdings PLC acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth about $1,904,000. Finally, GSA Capital Partners LLP acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth about $595,000. Hedge funds and other institutional investors own 99.16% of the company’s stock.

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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