BMO Capital Markets Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $114.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price dropped by equities researchers at BMO Capital Markets from $128.00 to $114.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 3.95% from the company’s previous close.

A number of other research firms also recently weighed in on NBIX. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Oppenheimer upped their target price on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Citigroup boosted their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada decreased their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Guggenheim increased their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Trading Up 0.3 %

NBIX traded up $0.34 during midday trading on Thursday, reaching $118.69. The company’s stock had a trading volume of 47,685 shares, compared to its average volume of 848,915. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The stock has a market cap of $11.94 billion, a P/E ratio of 32.75 and a beta of 0.36. The company has a fifty day simple moving average of $127.16 and a 200 day simple moving average of $135.09.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period last year, the firm posted $0.95 EPS. The company’s revenue was up 30.4% compared to the same quarter last year. Sell-side analysts expect that Neurocrine Biosciences will post 4.19 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now directly owns 6,607 shares in the company, valued at approximately $975,853.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,968 shares of company stock worth $8,999,632. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences in the 1st quarter worth approximately $26,000. RFP Financial Group LLC grew its position in Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences during the 2nd quarter worth $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Neurocrine Biosciences during the first quarter worth about $32,000. Institutional investors and hedge funds 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.