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

Neurocrine Biosciences (NASDAQ:NBIX) had its price target cut 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.

Several other equities analysts have also issued reports on the stock. Oppenheimer boosted their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an outperform rating in a report on Friday, August 2nd. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. BMO Capital Markets decreased their target price on Neurocrine Biosciences from $142.00 to $128.00 and set a market perform rating for the company in a research note on Thursday, August 29th. HC Wainwright reissued a buy rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Finally, Piper Sandler upgraded Neurocrine Biosciences from a neutral rating to an overweight rating and increased their price target for the stock from $131.00 to $159.00 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $163.21.

Neurocrine Biosciences Trading Up 1.9 %

Shares of NBIX opened at $114.00 on Friday. The stock’s 50-day moving average price is $132.29 and its two-hundred day moving average price is $136.50. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98. The company has a market capitalization of $11.47 billion, a PE ratio of 31.40 and a beta of 0.36.

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

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences 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 transaction, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,789,638.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,798 shares of company stock valued at $9,274,196. 4.30% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of NBIX. Vestal Point Capital LP purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $105,408,000. 1832 Asset Management L.P. raised its position in Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after acquiring an additional 504,400 shares during the period. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares during the period. Vanguard Group Inc. boosted its stake in Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares during the last quarter. Finally, Iron Triangle Partners LP bought a new position in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $30,342,000. 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.