BMO Capital Markets Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $128.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective cut by stock analysts at BMO Capital Markets from $142.00 to $128.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 0.74% from the company’s previous close.

A number of other research analysts have also recently issued reports on NBIX. Citigroup lifted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday. Evercore ISI started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Guggenheim boosted their target price on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $163.00.

Neurocrine Biosciences Trading Down 1.1 %

NASDAQ NBIX opened at $127.06 on Thursday. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98. The company has a 50 day moving average of $143.93 and a 200-day moving average of $139.34. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 35.00 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. On average, equities research analysts forecast that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Julie Cooke sold 12,632 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,789,638.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Julie Cooke sold 12,632 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,789,638.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary A. Lyons sold 930 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the transaction, the director now owns 119,047 shares in the company, valued at approximately $17,860,621.41. The disclosure for this sale can be found here. Insiders have sold a total of 71,798 shares of company stock worth $10,676,096 over the last quarter. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after purchasing an additional 220,598 shares during the period. Renaissance Technologies LLC increased its position in shares of Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock worth $146,703,000 after acquiring an additional 23,831 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Neurocrine Biosciences by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after acquiring an additional 13,069 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.