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

Neurocrine Biosciences (NASDAQ:NBIX) had its price target trimmed by Royal Bank of Canada from $143.00 to $136.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also issued reports on NBIX. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Oppenheimer increased their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, July 25th. Robert W. Baird raised their target price 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. Finally, UBS Group raised their target price 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 investment 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, Neurocrine Biosciences presently has a consensus rating of Moderate Buy and an average price target of $163.00.

Neurocrine Biosciences Price Performance

NBIX stock opened at $128.43 on Thursday. The company’s 50 day simple moving average is $144.08 and its 200-day simple moving average is $139.36. The firm has a market capitalization of $12.92 billion, a PE ratio of 35.38 and a beta of 0.37. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the sale, the insider now directly owns 6,607 shares in the company, valued at approximately $975,853.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,741,180.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the sale, the insider now owns 6,607 shares in the company, valued at $975,853.90. The disclosure for this sale can be found here. Insiders have sold a total of 71,798 shares of company stock worth $10,676,096 in the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers raised its holdings in shares of Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after purchasing an additional 519 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $509,000. Lion Point Capital LP raised its holdings in shares of Neurocrine Biosciences by 11.3% in the 2nd quarter. Lion Point Capital LP now owns 8,350 shares of the company’s stock worth $1,150,000 after purchasing an additional 850 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Neurocrine Biosciences by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock worth $17,264,000 after purchasing an additional 1,074 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $982,000. 92.59% of the stock is currently owned by 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.