Neurocrine Biosciences (NASDAQ:NBIX) Given New $163.00 Price Target at Canaccord Genuity Group

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lowered by Canaccord Genuity Group from $172.00 to $163.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Barclays raised their price objective 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. Morgan Stanley raised their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $148.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $167.81.

Neurocrine Biosciences Trading Down 18.5 %

Neurocrine Biosciences stock opened at $122.62 on Friday. The stock’s fifty day simple moving average is $138.89 and its 200-day simple moving average is $131.77. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a market capitalization of $12.42 billion, a P/E ratio of 37.27 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced 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%. Sell-side analysts predict that Neurocrine Biosciences will post 6.53 earnings per share 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 company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,693 shares of company stock worth $32,718,279 in the last 90 days. 4.30% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. State Street Corp grew its stake in Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Neurocrine Biosciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after acquiring an additional 39,610 shares during the last quarter. Braidwell LP boosted its stake in 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 acquiring an additional 158,665 shares during the period. Bank of New York Mellon Corp grew its holdings 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 valued at $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 4th quarter worth approximately $115,193,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.