Neurocrine Biosciences (NASDAQ:NBIX) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Neurocrine Biosciences (NASDAQ:NBIX) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

NBIX has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target (up previously from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Truist Financial dropped their target price on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Citigroup boosted their price target on Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $175.84.

Neurocrine Biosciences Stock Up 1.2%

Shares of NBIX stock opened at $129.32 on Tuesday. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company’s fifty day simple moving average is $138.43 and its 200-day simple moving average is $140.34. The firm has a market cap of $12.98 billion, a PE ratio of 27.75, a P/E/G ratio of 0.65 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same period last year, the business posted $1.69 EPS. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the sale, the insider owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,966 shares of company stock worth $8,625,166. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the business. AlTi Global Inc. boosted its position in shares of Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after buying an additional 70 shares during the last quarter. Huntington National Bank boosted its holdings in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after acquiring an additional 76 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Neurocrine Biosciences by 0.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after buying an additional 77 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its stake in Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.