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

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

A number of other brokerages also recently weighed in on NBIX. Barclays upped their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Wedbush reduced their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group reduced their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday. Finally, UBS Group lifted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $167.81.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $122.62 on Friday. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The stock’s 50 day moving average price is $138.89 and its 200 day moving average price is $131.77.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 13.45% and a net margin of 14.49%. On average, sell-side analysts expect that Neurocrine Biosciences will post 6.53 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the sale, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock worth $32,718,279 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the period. Blue Trust Inc. grew its stake in Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Neurocrine Biosciences by 53.5% in the 4th 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 acquired a new position in Neurocrine Biosciences during the 4th quarter worth $61,000. Institutional investors and hedge funds 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.