Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Down 4.9% After Analyst Downgrade

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)’s share price traded down 4.9% on Monday after Guggenheim lowered their price target on the stock from $165.00 to $163.00. Guggenheim currently has a buy rating on the stock. Neurocrine Biosciences traded as low as $116.48 and last traded at $116.60. 1,568,535 shares changed hands during trading, an increase of 29% from the average session volume of 1,217,145 shares. The stock had previously closed at $122.62.

Several other equities research analysts have also weighed in on NBIX. HC Wainwright dropped their price target on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday. UBS Group upped their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Morgan Stanley upped their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Canaccord Genuity Group decreased their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $168.35.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,507 shares in the company, valued at $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,693 shares of company stock valued at $32,718,279 over the last three months. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NBIX. Cetera Investment Advisers boosted its position in shares of Neurocrine Biosciences by 7.9% in the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after purchasing an additional 519 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at about $510,000. CWM LLC increased its position in shares of Neurocrine Biosciences by 15.1% during the 3rd quarter. CWM LLC now owns 7,884 shares of the company’s stock valued at $908,000 after purchasing an additional 1,035 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Neurocrine Biosciences by 26.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,800 shares of the company’s stock worth $437,000 after acquiring an additional 800 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Neurocrine Biosciences by 29.3% in the third quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock worth $918,000 after purchasing an additional 1,803 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Down 3.1 %

The company has a market cap of $12.03 billion, a P/E ratio of 36.11 and a beta of 0.33. The firm has a 50 day moving average of $138.81 and a 200-day moving average of $131.42.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly 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%. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 6.53 EPS for the current fiscal year.

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.