HC Wainwright Has Lowered Expectations for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lowered by investment analysts at HC Wainwright from $190.00 to $185.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 22.92% from the company’s current price.

Several other research firms also recently weighed in on NBIX. Bank of America cut their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Piper Sandler reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Wedbush reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Barclays boosted their target price 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. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.19.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $150.51 on Friday. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 40.35 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The firm’s 50-day simple moving average is $138.41 and its two-hundred day simple moving average is $131.64.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly 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%. Analysts forecast that Neurocrine Biosciences will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,693 shares of company stock worth $32,718,279. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at about $25,000. Brooklyn Investment Group lifted its stake in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. boosted its holdings in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after acquiring an additional 220 shares during the period. Lindbrook Capital LLC grew its position in Neurocrine Biosciences by 53.5% during 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 last quarter. Finally, R Squared Ltd purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $61,000. 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.