Neurocrine Biosciences (NASDAQ:NBIX) Price Target Cut to $133.00 by Analysts at Royal Bank of Canada

Neurocrine Biosciences (NASDAQ:NBIX) had its target price reduced by Royal Bank of Canada from $136.00 to $133.00 in a research report released on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts also recently commented on NBIX. Needham & Company LLC restated a hold rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Piper Sandler upgraded shares of Neurocrine Biosciences from a neutral rating to an overweight rating and upped their price target for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Barclays cut their price objective on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an overweight rating on the stock in a research report on Monday, September 9th. Citigroup upped their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $162.08.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $2.12 during trading hours on Friday, reaching $114.00. The company’s stock had a trading volume of 784,263 shares, compared to its average volume of 860,627. Neurocrine Biosciences has a one year low of $103.63 and a one year high of $157.98. The company’s 50 day simple moving average is $132.29 and its 200 day simple moving average is $136.56. The stock has a market cap of $11.47 billion, a P/E ratio of 31.40 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its 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). The business had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. On average, sell-side analysts predict that Neurocrine Biosciences will post 4.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider Julie Cooke sold 900 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction that occurred on 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 $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,798 shares of company stock worth $9,274,196 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in shares of Neurocrine Biosciences during the 1st quarter valued at $26,000. RFP Financial Group LLC grew its stake in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter worth about $28,000. Innealta Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth about $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at about $32,000. Institutional investors and hedge funds 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.