Neurocrine Biosciences (NASDAQ:NBIX) Lowered to Neutral at Goldman Sachs Group

Goldman Sachs Group downgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a buy rating to a neutral rating in a research note released on Monday morning, BenzingaRatingsTable reports. They currently have $135.00 target price on the stock.

NBIX has been the subject of a number of other research reports. Mizuho boosted their price objective on Neurocrine Biosciences from $103.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, May 7th. Morgan Stanley reduced their price objective on Neurocrine Biosciences from $121.00 to $120.00 and set a buy rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $122.00 to $134.00 and gave the stock an overweight rating in a report on Thursday, June 18th. Wedbush initiated coverage on Neurocrine Biosciences in a research note on Monday, June 8th. They issued an outperform rating and a $147.00 price target for the company. Finally, HC Wainwright reiterated a buy rating and issued a $131.00 price target (up from $125.00) on shares of Neurocrine Biosciences in a research note on Wednesday, June 17th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $127.72.

Shares of NASDAQ NBIX opened at $125.37 on Monday. Neurocrine Biosciences has a twelve month low of $72.14 and a twelve month high of $131.00. The company has a market cap of $11.79 billion, a PE ratio of 68.14 and a beta of 1.35. The business’s 50 day moving average price is $121.68 and its two-hundred day moving average price is $105.09. The company has a quick ratio of 6.75, a current ratio of 6.90 and a debt-to-equity ratio of 0.71.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Neurocrine Biosciences had a return on equity of 37.53% and a net margin of 19.90%. The company had revenue of $237.10 million during the quarter, compared to analysts’ expectations of $226.29 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue was up 71.3% on a year-over-year basis. As a group, research analysts anticipate that Neurocrine Biosciences will post 3.05 EPS for the current fiscal year.

In other news, insider Eric Benevich sold 8,632 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $94.65, for a total value of $817,018.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eiry Roberts sold 5,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the sale, the insider now directly owns 14,416 shares of the company’s stock, valued at $1,874,080. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,137 shares of company stock valued at $14,128,453. 4.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd boosted its holdings in shares of Neurocrine Biosciences by 172.9% in the 4th quarter. Altshuler Shaham Ltd now owns 262 shares of the company’s stock valued at $28,000 after buying an additional 166 shares in the last quarter. FDx Advisors Inc. acquired a new stake in Neurocrine Biosciences during the 1st quarter valued at approximately $42,000. Evolution Wealth Advisors LLC lifted its stake in Neurocrine Biosciences by 33.2% during the 1st quarter. Evolution Wealth Advisors LLC now owns 505 shares of the company’s stock valued at $44,000 after acquiring an additional 126 shares during the period. Acadian Asset Management LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $48,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $100,000. 96.75% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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