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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price dropped by equities research analysts at Royal Bank of Canada from $154.00 to $148.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 20.64% from the stock’s previous close.

A number of other equities research analysts also recently commented on NBIX. Piper Sandler restated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Wedbush lowered their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Finally, StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.81.

Neurocrine Biosciences Trading Down 18.5 %

NASDAQ:NBIX traded down $27.83 during trading hours on Friday, hitting $122.68. The company had a trading volume of 5,432,542 shares, compared to its average volume of 1,147,654. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The company has a 50-day moving average of $138.89 and a 200 day moving average of $131.77. The company has a market cap of $12.42 billion, a P/E ratio of 32.71 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. On average, analysts forecast that Neurocrine Biosciences will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock worth $32,718,279 over the last 90 days. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after purchasing an additional 39,610 shares during the last quarter. Braidwell LP increased its holdings in shares of Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after purchasing an additional 158,665 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Neurocrine Biosciences by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after purchasing an additional 12,040 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $115,193,000. 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.