Neurocrine Biosciences (NASDAQ:NBIX) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a hold rating to a buy rating in a research note published on Wednesday, ValuEngine reports.

NBIX has been the subject of several other reports. Piper Jaffray Companies boosted their price target on shares of Neurocrine Biosciences from $103.00 to $111.00 and gave the stock an overweight rating in a research note on Tuesday. BidaskClub raised shares of Neurocrine Biosciences from a sell rating to a hold rating in a research note on Saturday, May 4th. Evercore ISI began coverage on shares of Neurocrine Biosciences in a research note on Thursday, April 11th. They issued an outperform rating for the company. JPMorgan Chase & Co. raised shares of Neurocrine Biosciences from a neutral rating to an overweight rating and boosted their price target for the stock from $100.00 to $106.00 in a research note on Monday, April 22nd. Finally, Oppenheimer began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, July 16th. They issued an outperform rating and a $100.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Neurocrine Biosciences has a consensus rating of Buy and an average price target of $106.58.

Neurocrine Biosciences stock traded down $1.42 during mid-day trading on Wednesday, hitting $94.05. The company’s stock had a trading volume of 539,547 shares, compared to its average volume of 722,586. The company has a current ratio of 7.44, a quick ratio of 8.61 and a debt-to-equity ratio of 0.96. The stock has a market cap of $8.83 billion, a PE ratio of 427.50, a price-to-earnings-growth ratio of 5.11 and a beta of 1.32. The business has a 50 day moving average of $86.30. Neurocrine Biosciences has a 12 month low of $64.72 and a 12 month high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. The business had revenue of $183.58 million during the quarter, compared to the consensus estimate of $161.79 million. Neurocrine Biosciences had a net margin of 2.98% and a return on equity of 0.46%. The firm’s revenue for the quarter was up 89.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) earnings per share. Equities analysts forecast that Neurocrine Biosciences will post 0.7 earnings per share for the current year.

In related news, insider Haig P. Bozigian sold 66,667 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $80.13, for a total transaction of $5,342,026.71. Following the transaction, the insider now owns 164,415 shares in the company, valued at $13,174,573.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Haig P. Bozigian sold 17,486 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $80.03, for a total transaction of $1,399,404.58. Following the transaction, the insider now owns 159,462 shares in the company, valued at approximately $12,761,743.86. The disclosure for this sale can be found here. Insiders sold 200,986 shares of company stock worth $16,521,687 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Evolution Wealth Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter valued at about $40,000. NEXT Financial Group Inc increased its position in shares of Neurocrine Biosciences by 89.8% during the second quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after buying an additional 265 shares during the period. Quadrant Capital Group LLC increased its position in shares of Neurocrine Biosciences by 9,242.9% during the first quarter. Quadrant Capital Group LLC now owns 654 shares of the company’s stock valued at $56,000 after buying an additional 647 shares during the period. Clarus Wealth Advisors increased its position in shares of Neurocrine Biosciences by 313.4% during the second quarter. Clarus Wealth Advisors now owns 802 shares of the company’s stock valued at $68,000 after buying an additional 608 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Neurocrine Biosciences by 6.8% during the first quarter. SG Americas Securities LLC now owns 2,106 shares of the company’s stock valued at $186,000 after buying an additional 135 shares during the period. Institutional investors own 95.83% of the company’s stock.

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.

Further Reading: Stop Order Uses For Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

Receive News & Ratings for Neurocrine Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurocrine Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.