Royal Bank of Canada Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $148.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective trimmed by Royal Bank of Canada from $154.00 to $148.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other equities research analysts have also weighed in on NBIX. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Raymond James reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $122.62 on Friday. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The firm has a market capitalization of $12.41 billion, a PE ratio of 37.27 and a beta of 0.33. The stock’s fifty day moving average is $138.81 and its 200 day moving average is $131.52.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. Equities analysts forecast that Neurocrine Biosciences will post 6.53 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the transaction, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,693 shares of company stock worth $32,718,279. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the fourth quarter worth $25,000. Brooklyn Investment Group grew its holdings in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. increased its holdings in Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares in the last quarter. Lindbrook Capital LLC raised its position in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares during the period. Finally, R Squared Ltd purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $61,000. 92.59% of the stock is owned by institutional investors and hedge funds.

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.