Neurocrine Biosciences (NASDAQ:NBIX) Hits New 12-Month Low – Time to Sell?

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) reached a new 52-week low on Tuesday . The stock traded as low as $107.25 and last traded at $105.32, with a volume of 128329 shares trading hands. The stock had previously closed at $110.87.

Wall Street Analyst Weigh In

A number of research firms have commented on NBIX. HC Wainwright reiterated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. UBS Group upped their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Bank of America dropped their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $165.24.

Neurocrine Biosciences Stock Down 3.1 %

The stock has a 50 day simple moving average of $131.95 and a 200 day simple moving average of $126.73. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share buyback program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Matt Abernethy sold 2,558 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the sale, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now directly owns 2,507 shares in the company, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 234,269 shares of company stock worth $34,053,879. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Siemens Fonds Invest GmbH acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $850,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $9,286,000. Forum Financial Management LP acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $254,000. Peak Retirement Planning Inc. bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $1,029,000. Finally, Toronto Dominion Bank grew its position in shares of Neurocrine Biosciences by 3.9% during the 4th quarter. Toronto Dominion Bank now owns 13,183 shares of the company’s stock valued at $1,799,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.