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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by Royal Bank of Canada from $154.00 to $148.00 in a report released on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms have also recently weighed in on NBIX. Canaccord Genuity Group lowered their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday. Bank of America dropped their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays increased their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Neurocrine Biosciences Stock Down 18.5 %

Neurocrine Biosciences stock opened at $122.62 on Friday. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33. The company has a fifty day simple moving average of $138.81 and a 200-day simple moving average of $131.52.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.45%. On average, research analysts anticipate that Neurocrine Biosciences will post 6.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,693 shares of company stock valued at $32,718,279. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers raised its stake in Neurocrine Biosciences by 7.9% during the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after acquiring an additional 519 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Neurocrine Biosciences in the second quarter valued at approximately $510,000. GAMMA Investing LLC raised its stake in shares of Neurocrine Biosciences by 11.9% during the third quarter. GAMMA Investing LLC now owns 1,738 shares of the company’s stock worth $200,000 after purchasing an additional 185 shares during the last quarter. CWM LLC lifted its holdings in shares of Neurocrine Biosciences by 15.1% during the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after purchasing an additional 1,035 shares during the period. Finally, Perpetual Ltd grew its position in Neurocrine Biosciences by 96.6% in the 3rd quarter. Perpetual Ltd now owns 12,560 shares of the company’s stock valued at $1,447,000 after buying an additional 6,170 shares during the last quarter. Hedge funds and other institutional investors 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.