Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $136.00 at Royal Bank of Canada

Neurocrine Biosciences (NASDAQ:NBIX) had its target price cut by analysts at Royal Bank of Canada from $143.00 to $136.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 7.04% from the stock’s current price.

A number of other brokerages also recently issued reports on NBIX. Jefferies Financial Group raised their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Barclays lifted their target price on Neurocrine Biosciences from $169.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $152.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. UBS Group raised 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. Finally, Robert W. Baird upped their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $127.06 on Thursday. The business’s 50 day moving average price is $143.93 and its 200 day moving average price is $139.34. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 35.00 and a beta of 0.37. Neurocrine Biosciences has a one year low of $103.63 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly 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 for the quarter, compared to analyst estimates of $545.98 million. During the same period in the previous year, the firm posted $0.95 EPS. The company’s revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Matt Abernethy sold 14,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,741,180.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Gary A. Lyons sold 930 shares of Neurocrine Biosciences 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 directly owns 119,047 shares of the company’s stock, valued at approximately $17,860,621.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matt Abernethy sold 14,100 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,741,180.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of the business. Mather Group LLC. purchased a new stake in Neurocrine Biosciences during the first quarter worth approximately $26,000. RFP Financial Group LLC raised its holdings in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $28,000. Innealta Capital LLC acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $31,000. 92.59% of the stock is 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.