BMO Capital Markets Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $114.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target reduced by BMO Capital Markets from $128.00 to $114.00 in a research report report published on Thursday, Benzinga reports. They currently have a market perform rating on the stock.

NBIX has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Monday, September 16th. Oppenheimer raised their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Finally, StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $118.01 on Thursday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 32.51 and a beta of 0.36. The firm has a 50 day simple moving average of $126.01 and a 200-day simple moving average of $134.80. Neurocrine Biosciences has a one year low of $103.63 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business’s revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Equities analysts predict that Neurocrine Biosciences will post 4.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Julie Cooke sold 12,632 shares of the business’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 sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,968 shares of company stock worth $8,999,632. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in Neurocrine Biosciences by 0.6% in the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Neurocrine Biosciences by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock valued at $1,574,000 after purchasing an additional 90 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Neurocrine Biosciences by 14.7% in the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock valued at $99,000 after purchasing an additional 92 shares during the last quarter. Total Clarity Wealth Management Inc. grew its position in shares of Neurocrine Biosciences by 4.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after purchasing an additional 100 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Neurocrine Biosciences by 1.1% during the 1st quarter. Park Avenue Securities LLC now owns 9,570 shares of the company’s stock worth $1,320,000 after purchasing an additional 101 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.