Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $173.00 at Morgan Stanley

Neurocrine Biosciences (NASDAQ:NBIX) had its target price cut by Morgan Stanley from $178.00 to $173.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on NBIX. Wall Street Zen raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Royal Bank Of Canada lifted their price target on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Truist Financial reaffirmed a “buy” rating and issued a $172.00 target price (up from $165.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $174.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.53.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $147.29 on Tuesday. The stock’s 50-day moving average is $142.34 and its 200 day moving average is $132.23. The company has a market cap of $14.69 billion, a PE ratio of 35.24, a P/E/G ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.46. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the business posted $1.81 EPS. Analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the sale, the director owned 40,360 shares in the company, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $19,933,581.79. This trade represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of the company. Dodge & Cox grew its stake in shares of Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after purchasing an additional 1,590,749 shares during the period. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the second quarter worth approximately $122,278,000. Los Angeles Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 19,454.9% in the second quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock worth $93,595,000 after buying an additional 740,842 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after buying an additional 640,556 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.