Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $155.00 at Cantor Fitzgerald

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective decreased by Cantor Fitzgerald from $170.00 to $155.00 in a research report sent to investors on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a market perform rating for the company in a research note on Thursday. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Sunday, August 4th. Barclays upped their price objective on Neurocrine Biosciences from $169.00 to $180.00 and gave the company an overweight rating in a research report on Friday, August 2nd. HC Wainwright restated a buy rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a report on Thursday. Finally, UBS Group upped their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of Moderate Buy and a consensus target price of $163.00.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $128.43 on Thursday. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 35.38 and a beta of 0.37. The firm’s fifty day moving average price is $144.08 and its 200 day moving average price is $139.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. 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 prior year, the business earned $0.95 EPS. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Gary A. Lyons sold 930 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares in the company, valued at approximately $17,860,621.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gary A. Lyons sold 930 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the sale, the director now owns 119,047 shares of the company’s stock, valued at approximately $17,860,621.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of the 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 transaction, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock valued at $10,676,096 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently made changes to their positions in NBIX. International Assets Investment Management LLC raised its holdings in Neurocrine Biosciences by 7,880.3% in the 4th quarter. International Assets Investment Management LLC now owns 5,666 shares of the company’s stock valued at $747,000 after buying an additional 5,595 shares during the last quarter. CWM LLC lifted its position in shares of Neurocrine Biosciences by 41.6% during the fourth quarter. CWM LLC now owns 2,902 shares of the company’s stock valued at $382,000 after purchasing an additional 853 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Neurocrine Biosciences by 4.0% in the 4th quarter. Truist Financial Corp now owns 37,195 shares of the company’s stock worth $4,901,000 after buying an additional 1,423 shares during the last quarter. Certuity LLC bought a new position in Neurocrine Biosciences in the 4th quarter valued at $415,000. Finally, Victory Capital Management Inc. grew its position in Neurocrine Biosciences by 67.9% during the fourth quarter. Victory Capital Management Inc. now owns 117,221 shares of the company’s stock valued at $15,445,000 after buying an additional 47,389 shares during the period. Institutional investors 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.