Guggenheim Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $163.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target trimmed by Guggenheim from $165.00 to $163.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on NBIX. Canaccord Genuity Group decreased their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. UBS Group upped their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada dropped their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Trading Up 0.3 %

Neurocrine Biosciences stock opened at $117.18 on Monday. The firm has a 50 day simple moving average of $138.49 and a 200 day simple moving average of $131.02. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 35.62 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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 13.45%. On average, equities research analysts forecast that Neurocrine Biosciences will post 6.53 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at $19,157,968. This represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,647 shares of company stock valued at $33,186,271 over the last three months. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Institutional investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after buying an additional 519 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Neurocrine Biosciences during the second quarter valued at approximately $510,000. CWM LLC lifted its stake in Neurocrine Biosciences by 15.1% in the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after acquiring an additional 1,035 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Neurocrine Biosciences by 26.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,800 shares of the company’s stock valued at $437,000 after acquiring an additional 800 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Neurocrine Biosciences by 29.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock valued at $918,000 after purchasing an additional 1,803 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.