Bank of America Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $179.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lowered by Bank of America from $184.00 to $179.00 in a research report sent to investors on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Piper Sandler reiterated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. BMO Capital Markets dropped their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday. Finally, Wedbush reissued an “outperform” rating and set a $148.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $122.62 on Friday. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33. The firm has a 50-day moving average of $138.81 and a two-hundred day moving average of $131.52. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98.

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

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,693 shares of company stock valued at $32,718,279. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $25,000. Brooklyn Investment Group raised its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. lifted its position 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 acquiring an additional 220 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $61,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.