Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $169.00 at Truist Financial

Neurocrine Biosciences (NASDAQ:NBIX) had its price target trimmed by Truist Financial from $172.00 to $169.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently issued reports on NBIX. Mizuho lifted their price objective on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus increased their price objective on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group raised their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $175.20.

Neurocrine Biosciences Stock Down 3.6%

NASDAQ:NBIX opened at $135.57 on Thursday. The business’s 50-day simple moving average is $146.51 and its two-hundred day simple moving average is $139.58. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $160.18. The stock has a market cap of $13.52 billion, a PE ratio of 32.43, a P/E/G ratio of 0.69 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter last year, the business posted $1.81 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,866 shares of company stock valued at $6,570,237 over the last 90 days. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Golden State Wealth Management LLC boosted its holdings in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Eastern Bank bought a new position in Neurocrine Biosciences in the 3rd quarter valued at $27,000. Quent Capital LLC purchased a new stake in Neurocrine Biosciences in the third quarter worth $32,000. Finally, MAI Capital Management increased its stake in Neurocrine Biosciences by 101.2% in the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after purchasing an additional 165 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.