Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $163.00 at Canaccord Genuity Group

Neurocrine Biosciences (NASDAQ:NBIX) had its target price cut by equities research analysts at Canaccord Genuity Group from $172.00 to $163.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 34.64% from the stock’s current price.

A number of other equities research analysts also recently issued reports on NBIX. Piper Sandler reissued an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Wedbush restated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. HC Wainwright dropped their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America lowered their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday. Finally, BMO Capital Markets decreased their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $167.14.

Neurocrine Biosciences Trading Down 19.6 %

NBIX stock traded down $29.45 during mid-day trading on Friday, hitting $121.06. 4,829,143 shares of the company were exchanged, compared to its average volume of 1,133,061. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The company has a market capitalization of $12.26 billion, a PE ratio of 32.55 and a beta of 0.33. The firm has a fifty day simple moving average of $138.89 and a 200 day simple moving average of $131.77.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 net margin of 17.21% and a return on equity of 15.68%. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 3.92 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction dated 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 approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction dated 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 $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock valued at $32,718,279 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its holdings in Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after buying an additional 100 shares during the last quarter. Metis Global Partners LLC increased its holdings in Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock worth $348,000 after buying an additional 104 shares during the last quarter. Commerce Bank grew its holdings in Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Neurocrine Biosciences by 2.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after purchasing an additional 113 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. 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.