Royal Bank of Canada Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $133.00

by · The Markets Daily

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) had its price objective lowered by Royal Bank of Canada from $136.00 to $133.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 17.98% from the company’s current price.

Several other equities analysts have also commented on the company. Jefferies Financial Group upped their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research note on Monday, August 19th. BMO Capital Markets decreased their price target on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird upped their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Citigroup increased their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Barclays decreased their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $162.08.

Get Our Latest Report on NBIX

Neurocrine Biosciences Stock Up 0.8 %

Shares of NASDAQ:NBIX traded up $0.85 during trading on Friday, hitting $112.73. The stock had a trading volume of 191,368 shares, compared to its average volume of 857,539. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 31.04 and a beta of 0.36. Neurocrine Biosciences has a 12-month low of $103.63 and a 12-month high of $157.98. The stock has a 50-day simple moving average of $132.94 and a two-hundred day simple moving average of $136.74.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 4.19 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,798 shares of company stock worth $9,274,196 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in NBIX. Commonwealth Equity Services LLC boosted its position in Neurocrine Biosciences by 0.6% during the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Neurocrine Biosciences by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock valued at $1,574,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Neurocrine Biosciences by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock valued at $99,000 after purchasing an additional 92 shares during the period. Total Clarity Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 4.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after acquiring an additional 100 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Neurocrine Biosciences by 1.1% during the first quarter. Park Avenue Securities LLC now owns 9,570 shares of the company’s stock worth $1,320,000 after purchasing an additional 101 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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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.

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