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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by research analysts at Royal Bank of Canada from $136.00 to $133.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 16.67% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Robert W. Baird boosted their price objective 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. Morgan Stanley increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Barclays reduced their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Finally, BMO Capital Markets lowered their price target on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, August 29th. Five 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.08.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $114.00 on Friday. Neurocrine Biosciences has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 31.40 and a beta of 0.36. The stock has a fifty day moving average of $132.29 and a two-hundred day moving average of $136.53.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company’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 business posted $0.95 EPS. On average, analysts forecast that Neurocrine Biosciences will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Julie Cooke sold 900 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,731,028.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now 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 have sold 61,798 shares of company stock valued at $9,274,196 over the last three months. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after purchasing an additional 220,598 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after buying an additional 216,500 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after buying an additional 228,444 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after buying an additional 13,069 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at $105,408,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.