Neurocrine Biosciences (NASDAQ:NBIX) Given New $163.00 Price Target at Guggenheim

Neurocrine Biosciences (NASDAQ:NBIX) had its price target cut by equities research analysts at Guggenheim from $165.00 to $163.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 32.93% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets decreased their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Canaccord Genuity Group reduced their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday. Finally, StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $168.35.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $122.62 on Monday. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33. The stock’s fifty day moving average price is $138.81 and its two-hundred day moving average price is $131.52.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. On average, equities analysts anticipate that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock valued at $32,718,279 in the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at $25,000. Brooklyn Investment Group grew its stake in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $61,000. Institutional investors 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.