Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned a consensus recommendation of “Buy” from the twenty-three analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $102.44.
A number of brokerages have recently weighed in on NBIX. Zacks Investment Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a research report on Wednesday, April 10th. Barclays reiterated a “buy” rating and set a $110.00 price target on shares of Neurocrine Biosciences in a research report on Friday, March 29th. Evercore ISI began coverage on Neurocrine Biosciences in a research report on Thursday. They set an “outperform” rating on the stock. Oppenheimer set a $105.00 price target on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. cut Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $97.00 to $100.00 in a research report on Wednesday, January 23rd.
NASDAQ NBIX traded down $1.43 on Wednesday, hitting $84.81. 625,300 shares of the stock traded hands, compared to its average volume of 892,451. Neurocrine Biosciences has a twelve month low of $64.72 and a twelve month high of $126.98. The stock has a market capitalization of $7.78 billion, a P/E ratio of 385.50, a PEG ratio of 27.82 and a beta of 1.87. The company has a quick ratio of 8.24, a current ratio of 8.36 and a debt-to-equity ratio of 0.81.
In other Neurocrine Biosciences news, insider Kyle Gano sold 3,809 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $88.12, for a total transaction of $335,649.08. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, CEO Kevin Charles Gorman sold 7,614 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total value of $671,250.24. Following the transaction, 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 owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Norges Bank bought a new position in Neurocrine Biosciences during the 4th quarter valued at $61,171,000. Orbimed Advisors LLC boosted its stake in Neurocrine Biosciences by 258.6% during the 4th quarter. Orbimed Advisors LLC now owns 494,200 shares of the company’s stock valued at $35,291,000 after purchasing an additional 356,400 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Neurocrine Biosciences by 94.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 691,851 shares of the company’s stock valued at $49,405,000 after purchasing an additional 336,101 shares in the last quarter. First Trust Advisors LP boosted its stake in Neurocrine Biosciences by 27.3% during the 4th quarter. First Trust Advisors LP now owns 1,299,455 shares of the company’s stock valued at $92,794,000 after purchasing an additional 278,598 shares in the last quarter. Finally, Capital International Investors bought a new position in Neurocrine Biosciences during the 3rd quarter valued at $31,721,000.
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 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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