Barclays Reaffirms Buy Rating for Neurocrine Biosciences (NBIX)

Barclays reaffirmed their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Thursday morning. Barclays currently has a $95.00 price objective on the stock.

A number of other analysts also recently issued reports on the company. Morgan Stanley initiated coverage on Neurocrine Biosciences in a research report on Monday, September 10th. They issued an overweight rating and a $145.00 target price for the company. Oppenheimer set a $140.00 target price on Neurocrine Biosciences and gave the stock a buy rating in a research report on Tuesday, September 4th. ICAP decreased their target price on Neurocrine Biosciences from $140.00 to $128.00 and set an outperform rating for the company in a research report on Tuesday, September 4th. Cantor Fitzgerald initiated coverage on Neurocrine Biosciences in a research report on Wednesday, August 22nd. They issued an overweight rating and a $150.00 target price for the company. Finally, BidaskClub downgraded Neurocrine Biosciences from a buy rating to a hold rating in a research report on Saturday, September 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. Neurocrine Biosciences has a consensus rating of Buy and a consensus target price of $104.62.

NASDAQ:NBIX opened at $71.34 on Thursday. Neurocrine Biosciences has a 1 year low of $64.72 and a 1 year high of $126.98. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 1,426.80, a PEG ratio of 17.88 and a beta of 0.90.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. Neurocrine Biosciences had a return on equity of 2.54% and a net margin of 2.40%. The business had revenue of $151.80 million during the quarter, compared to the consensus estimate of $151.51 million. During the same period last year, the business posted ($0.13) earnings per share. The business’s revenue for the quarter was up 149.7% on a year-over-year basis. As a group, equities analysts predict that Neurocrine Biosciences will post 0.18 EPS for the current fiscal year.

In other news, CFO Matt Abernethy sold 1,178 shares of Neurocrine Biosciences stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $90.00, for a total value of $106,020.00. Following the completion of the transaction, the chief financial officer now directly owns 1,947 shares in the company, valued at $175,230. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard F. Pops sold 5,500 shares of Neurocrine Biosciences stock in a transaction on Monday, October 29th. The shares were sold at an average price of $107.13, for a total value of $589,215.00. Following the completion of the transaction, the director now owns 37,759 shares of the company’s stock, valued at $4,045,121.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,925 shares of company stock valued at $4,204,191. 4.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Federated Investors Inc. PA boosted its stake in Neurocrine Biosciences by 90.0% during the third quarter. Federated Investors Inc. PA now owns 152,488 shares of the company’s stock valued at $18,748,000 after buying an additional 72,224 shares during the period. Rehmann Capital Advisory Group boosted its stake in Neurocrine Biosciences by 54.7% during the third quarter. Rehmann Capital Advisory Group now owns 557 shares of the company’s stock valued at $68,000 after buying an additional 197 shares during the period. Marshall Wace LLP bought a new stake in Neurocrine Biosciences during the third quarter valued at $9,895,000. Great Lakes Advisors LLC bought a new stake in Neurocrine Biosciences during the third quarter valued at $9,269,000. Finally, Vanguard Group Inc boosted its stake in Neurocrine Biosciences by 2.7% during the third quarter. Vanguard Group Inc now owns 7,772,236 shares of the company’s stock valued at $955,597,000 after buying an additional 204,065 shares during the period. Institutional investors own 96.96% 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's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.

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