Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) had its price target cut by stock analysts at Mizuho from $116.00 to $111.00 in a research note issued to investors on Thursday, The Fly reports. Mizuho’s price target points to a potential upside of 12.55% from the stock’s current price.
A number of other equities analysts also recently issued reports on NBIX. Barclays lowered their price target on Neurocrine Biosciences from $131.00 to $125.00 in a report on Thursday. StockNews.com initiated coverage on Neurocrine Biosciences in a report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Morgan Stanley upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $130.00 in a research note on Friday, February 3rd. Cantor Fitzgerald reduced their price objective on Neurocrine Biosciences from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, February 7th. Finally, Evercore ISI upgraded Neurocrine Biosciences from an “in-line” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Friday, March 3rd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.21.
Neurocrine Biosciences Trading Down 4.7 %
Shares of NBIX opened at $98.62 on Thursday. The firm has a market cap of $9.53 billion, a P/E ratio of 64.46, a price-to-earnings-growth ratio of 0.76 and a beta of 0.49. Neurocrine Biosciences has a 12-month low of $75.25 and a 12-month high of $129.29. The company’s 50-day moving average price is $100.30 and its 200 day moving average price is $109.67.
Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. Neurocrine Biosciences had a return on equity of 10.19% and a net margin of 10.38%. The business had revenue of $412.00 million during the quarter, compared to the consensus estimate of $408.96 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts forecast that Neurocrine Biosciences will post 2.63 earnings per share for the current year.
Insider Buying and Selling at Neurocrine Biosciences
In other Neurocrine Biosciences news, Director William H. Rastetter sold 903 shares of the firm’s stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $105.00, for a total transaction of $94,815.00. Following the completion of the sale, the director now owns 34,729 shares in the company, valued at approximately $3,646,545. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Neurocrine Biosciences Inc bought 4,395,588 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was bought at an average price of $8.88 per share, for a total transaction of $39,032,821.44. Following the transaction, the insider now owns 8,575,316 shares in the company, valued at $76,148,806.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Rastetter sold 903 shares of the business’s stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $105.00, for a total value of $94,815.00. Following the transaction, the director now owns 34,729 shares of the company’s stock, valued at approximately $3,646,545. The disclosure for this sale can be found here. Insiders sold a total of 70,936 shares of company stock worth $7,330,598 in the last 90 days. 4.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp acquired a new position in Neurocrine Biosciences during the 1st quarter valued at approximately $1,011,000. Tobam raised its stake in Neurocrine Biosciences by 25.9% during the 1st quarter. Tobam now owns 362,404 shares of the company’s stock valued at $36,683,000 after acquiring an additional 74,564 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Neurocrine Biosciences by 16.0% during the 1st quarter. New Mexico Educational Retirement Board now owns 17,400 shares of the company’s stock valued at $1,761,000 after acquiring an additional 2,400 shares in the last quarter. Yousif Capital Management LLC raised its stake in Neurocrine Biosciences by 0.4% during the 1st quarter. Yousif Capital Management LLC now owns 50,979 shares of the company’s stock valued at $5,160,000 after acquiring an additional 180 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Neurocrine Biosciences by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,766 shares of the company’s stock valued at $584,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.
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