Neurocrine Biosciences (NBIX) Receives New Coverage from Analysts at Credit Suisse Group

Research analysts at Credit Suisse Group began coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the stock.

Other analysts also recently issued reports about the company. Bank of America lowered their price target on Neurocrine Biosciences from $124.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, February 6th. HC Wainwright reiterated a “buy” rating on shares of Neurocrine Biosciences in a report on Wednesday, January 30th. Cantor Fitzgerald reiterated a “buy” rating and issued a $121.00 price target on shares of Neurocrine Biosciences in a report on Tuesday, January 29th. Oppenheimer set a $105.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, ValuEngine upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.42.

NASDAQ NBIX traded down $2.35 during trading hours on Monday, hitting $76.68. The company had a trading volume of 525,410 shares, compared to its average volume of 961,126. Neurocrine Biosciences has a fifty-two week low of $64.72 and a fifty-two week high of $126.98. The company has a market cap of $7.00 billion, a P/E ratio of 348.55 and a beta of 1.73. The company has a current ratio of 8.79, a quick ratio of 8.61 and a debt-to-equity ratio of 0.96.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Monday, April 29th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.07). Neurocrine Biosciences had a negative net margin of 7.56% and a negative return on equity of 9.14%. The company had revenue of $138.40 million during the quarter, compared to analyst estimates of $136.77 million. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 94.7% on a year-over-year basis. On average, sell-side analysts forecast that Neurocrine Biosciences will post -0.24 EPS for the current fiscal year.

In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 66,667 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $80.13, for a total value of $5,342,026.71. Following the completion of the transaction, the insider now directly owns 164,415 shares of the company’s stock, valued at approximately $13,174,573.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Eaton Vance Management lifted its position in shares of Neurocrine Biosciences by 20.8% during the fourth quarter. Eaton Vance Management now owns 129,434 shares of the company’s stock worth $9,243,000 after purchasing an additional 22,280 shares during the last quarter. NumerixS Investment Technologies Inc lifted its position in shares of Neurocrine Biosciences by 75.2% during the fourth quarter. NumerixS Investment Technologies Inc now owns 3,300 shares of the company’s stock worth $226,000 after purchasing an additional 1,416 shares during the last quarter. Brinker Capital Inc. bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $705,000. Voloridge Investment Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $4,331,000. Finally, LPL Financial LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $278,000. 99.57% of the stock is owned by 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 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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