Neurocrine Biosciences (NASDAQ:NBIX) Price Target Cut to $179.00 by Analysts at Bank of America

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by Bank of America from $184.00 to $179.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also commented on NBIX. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Raymond James reissued an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Barclays boosted their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Piper Sandler reiterated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Finally, BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.81.

Neurocrine Biosciences Stock Down 18.5 %

Shares of Neurocrine Biosciences stock opened at $122.62 on Friday. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The stock has a market capitalization of $12.42 billion, a P/E ratio of 37.27 and a beta of 0.33. The company has a 50-day simple moving average of $138.89 and a 200 day simple moving average of $131.77.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts anticipate that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the sale, the director now owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock valued at $32,718,279 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $25,000. Brooklyn Investment Group grew its stake in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $61,000. 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.