Neurocrine Biosciences (NASDAQ:NBIX) PT Lowered to $114.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective reduced by stock analysts at BMO Capital Markets from $128.00 to $114.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential downside of 3.95% from the stock’s current price.

Several other equities analysts have also recently issued reports on NBIX. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Jefferies Financial Group upped their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Barclays lowered their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Stock Performance

NBIX traded up $0.34 on Thursday, reaching $118.69. The company had a trading volume of 47,685 shares, compared to its average volume of 848,915. The business has a 50 day simple moving average of $127.16 and a 200 day simple moving average of $135.09. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 32.75 and a beta of 0.36. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter in the previous year, the business earned $0.95 EPS. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, equities research analysts predict that Neurocrine Biosciences will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now owns 6,607 shares in the company, valued at $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the transaction, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,789,638.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,968 shares of company stock worth $8,999,632 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after acquiring an additional 216,500 shares during the last quarter. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares during the period. Bank of New York Mellon Corp increased its stake in Neurocrine Biosciences by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after acquiring an additional 13,069 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Neurocrine Biosciences by 40.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock valued at $97,828,000 after purchasing an additional 203,934 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.