Barclays Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $160.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price decreased by Barclays from $180.00 to $160.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on NBIX. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $143.00 to $136.00 and set a sector perform rating on the stock in a report on Thursday, August 29th. HC Wainwright reaffirmed a buy rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Robert W. Baird lifted their price objective on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an outperform rating in a report on Friday, August 2nd. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a buy rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $162.20.

Neurocrine Biosciences Stock Up 2.0 %

NASDAQ NBIX opened at $121.47 on Monday. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98. The business’s 50-day moving average price is $141.63 and its 200 day moving average price is $138.79. The firm has a market cap of $12.22 billion, a P/E ratio of 33.46 and a beta of 0.37.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,551,738.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at $4,741,180.64. The disclosure for this sale can be found here. In the last three months, insiders sold 71,798 shares of company stock worth $10,676,096. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. purchased a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at $26,000. RFP Financial Group LLC boosted its position in Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Neurocrine Biosciences during the 2nd quarter worth $28,000. Innealta Capital LLC purchased a new stake 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 1st quarter worth $32,000. 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.