Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $147.00 at Wedbush

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective reduced by Wedbush from $157.00 to $147.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

NBIX has been the subject of a number of other research reports. Barclays increased their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Canaccord Genuity Group reduced their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday. HC Wainwright dropped their target price on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday. Five equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.81.

Neurocrine Biosciences Trading Down 18.5 %

NASDAQ:NBIX opened at $122.62 on Friday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The firm’s 50 day moving average is $138.89 and its 200 day moving average is $131.77. The stock has a market capitalization of $12.42 billion, a PE ratio of 37.27 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. Research analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at $346,216.70. The trade was a 9.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value 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. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,693 shares of company stock valued at $32,718,279. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Caprock Group LLC purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $236,000. Plato Investment Management Ltd increased its stake in shares of Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after buying an additional 10,548 shares during the period. Swiss National Bank raised its holdings in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after acquiring an additional 4,100 shares in the last quarter. Tri Ri Asset Management Corp purchased a new stake in Neurocrine Biosciences in the third quarter worth $3,236,000. Finally, KBC Group NV boosted its holdings in Neurocrine Biosciences by 78.3% in the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after acquiring an additional 8,332 shares in the last quarter. 92.59% of the stock is owned by 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.