HC Wainwright Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $185.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target reduced by HC Wainwright from $190.00 to $185.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. UBS Group increased their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, Bank of America lowered their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.20.

Neurocrine Biosciences Stock Down 18.5 %

Shares of Neurocrine Biosciences stock opened at $122.62 on Friday. The firm has a market capitalization of $12.41 billion, a P/E ratio of 37.27 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The firm’s 50 day moving average is $138.81 and its two-hundred day moving average is $131.52.

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

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares of the company’s stock, valued at approximately $4,995,944.47. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock valued at $32,718,279 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group boosted its position 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 buying an additional 115 shares during the last quarter. Blue Trust Inc. raised its position in Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Neurocrine Biosciences during the 4th quarter worth $61,000. Institutional investors and hedge funds 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.