Neurocrine Biosciences (NASDAQ:NBIX) Price Target Cut to $185.00 by Analysts at HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective trimmed by HC Wainwright from $190.00 to $185.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. UBS Group upped their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Raymond James restated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $167.81.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $122.62 on Friday. The stock’s fifty day moving average price is $138.89 and its 200 day moving average price is $131.77. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its 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 13.45% and a net margin of 14.49%. Research analysts expect that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock worth $32,718,279 in the last ninety days. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of NBIX. Louisiana State Employees Retirement System lifted its position 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 valued at $3,836,000 after buying an additional 100 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after buying an additional 104 shares in the last quarter. Commerce Bank raised its holdings in shares of Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after buying an additional 108 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Neurocrine Biosciences by 2.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after acquiring an additional 113 shares during the period. Finally, Brooklyn Investment Group increased its stake in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

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.