Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $176.00 at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $177.00 to $176.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 36.96% from the company’s previous close.

NBIX has been the subject of a number of other reports. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. TD Cowen boosted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Truist Financial reduced their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $175.84.

Neurocrine Biosciences Trading Up 3.5%

NBIX traded up $4.38 during midday trading on Tuesday, hitting $128.50. The company’s stock had a trading volume of 834,155 shares, compared to its average volume of 1,241,008. Neurocrine Biosciences has a 52-week low of $84.23 and a 52-week high of $160.18. The firm has a 50-day moving average price of $139.52 and a two-hundred day moving average price of $140.44. The firm has a market cap of $12.90 billion, a P/E ratio of 27.58, a PEG ratio of 0.57 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The company had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.Neurocrine Biosciences’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 earnings per share. On average, equities analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $152.23, for a total value of $761,150.00. Following the sale, the director owned 7,429 shares in the company, valued at approximately $1,130,916.67. The trade was a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 61,966 shares of company stock worth $8,625,166. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. AlTi Global Inc. lifted its position in Neurocrine Biosciences by 1.0% in the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after buying an additional 70 shares in the last quarter. Huntington National Bank increased its position in Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Neurocrine Biosciences by 0.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after acquiring an additional 77 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the period. Finally, Motley Fool Asset Management LLC boosted its stake in Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.