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

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective cut by equities research analysts at Royal Bank of Canada from $154.00 to $148.00 in a 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 objective points to a potential upside of 20.64% from the company’s previous close.

A number of other brokerages also recently commented on NBIX. BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. HC Wainwright dropped their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley increased their target price on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.81.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded down $27.83 during trading hours on Friday, hitting $122.68. The company’s stock had a trading volume of 5,432,542 shares, compared to its average volume of 1,147,654. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The company has a market cap of $12.42 billion, a PE ratio of 32.71 and a beta of 0.33. The business has a 50 day moving average price of $138.89 and a two-hundred day moving average price of $131.77.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group raised its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the period. Blue Trust Inc. lifted its holdings in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of 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 purchasing an additional 130 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.