Neurocrine Biosciences (NASDAQ:NBIX) Given New $121.00 Price Target at Royal Bank of Canada

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lowered by Royal Bank of Canada from $128.00 to $121.00 in a research report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research firms also recently weighed in on NBIX. Piper Sandler raised their price target on shares of Neurocrine Biosciences from $95.00 to $100.00 and gave the stock a neutral rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $133.00 to $134.00 and gave the stock an overweight rating in a research note on Wednesday, September 13th. Jefferies Financial Group lifted their target price on shares of Neurocrine Biosciences to $123.00 in a research note on Monday, August 21st. SVB Leerink lifted their target price on shares of Neurocrine Biosciences from $125.00 to $135.00 in a research note on Friday, October 6th. Finally, Bank of America lifted their target price on shares of Neurocrine Biosciences from $137.00 to $143.00 in a research note on Sunday, October 8th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a 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 $131.46.

Neurocrine Biosciences Stock Down 4.4 %

NBIX opened at $107.17 on Friday. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 57.62, a PEG ratio of 1.01 and a beta of 0.40. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $129.29. The firm’s fifty day simple moving average is $112.09 and its two-hundred day simple moving average is $103.38.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.09). The business had revenue of $498.80 million during the quarter, compared to analysts’ expectations of $479.09 million. Neurocrine Biosciences had a return on equity of 10.54% and a net margin of 10.71%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, research analysts forecast that Neurocrine Biosciences will post 2.14 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kevin Charles Gorman sold 9,328 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $107.40, for a total value of $1,001,827.20. Following the completion of the transaction, the chief executive officer now owns 499,754 shares in the company, valued at $53,673,579.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kevin Charles Gorman sold 9,328 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $107.40, for a total value of $1,001,827.20. Following the completion of the transaction, the chief executive officer now owns 499,754 shares in the company, valued at $53,673,579.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary A. Lyons sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $110.06, for a total transaction of $550,300.00. Following the transaction, the director now owns 203,697 shares of the company’s stock, valued at approximately $22,418,891.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,083 shares of company stock worth $3,400,811. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $111,786,000. BlackRock Inc. grew its holdings in Neurocrine Biosciences by 6.6% during the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock worth $1,363,094,000 after acquiring an additional 838,997 shares in the last quarter. Braidwell LP acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $77,615,000. Woodline Partners LP grew its holdings in Neurocrine Biosciences by 189.0% during the 2nd quarter. Woodline Partners LP now owns 1,152,189 shares of the company’s stock worth $108,651,000 after acquiring an additional 753,495 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in Neurocrine Biosciences by 76.9% during the 1st quarter. Armistice Capital LLC now owns 1,592,000 shares of the company’s stock worth $161,142,000 after acquiring an additional 692,000 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.