Neurocrine Biosciences (NASDAQ:NBIX) Given New $128.00 Price Target at BMO Capital Markets

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective decreased by BMO Capital Markets from $142.00 to $128.00 in a research note issued to investors on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

NBIX has been the topic of a number of other research reports. Royal Bank of Canada lifted their price objective on Neurocrine Biosciences from $136.00 to $143.00 and gave the stock a sector perform rating in a research report on Friday, August 2nd. UBS Group lifted their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Robert W. Baird lifted their price objective on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Guggenheim lifted their price objective on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $163.00.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $128.43 on Thursday. The company has a market cap of $12.92 billion, a PE ratio of 35.38 and a beta of 0.37. The stock’s 50 day simple moving average is $144.08 and its 200-day simple moving average is $139.36. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter last year, the business earned $0.95 EPS. The business’s revenue was up 30.4% compared to the same quarter last year. On average, equities research analysts anticipate that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,789,638.52. The disclosure for this sale can be found here. Insiders sold 71,798 shares of company stock valued at $10,676,096 in the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in shares of Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Neurocrine Biosciences by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after purchasing an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Neurocrine Biosciences by 3.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares during the last quarter. Finally, Balentine LLC lifted its holdings in shares of Neurocrine Biosciences by 4.0% in the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after purchasing an additional 89 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.