Neurocrine Biosciences (NASDAQ:NBIX) Price Target Cut to $163.00 by Analysts at Guggenheim

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price target reduced by Guggenheim from $165.00 to $163.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on NBIX. Bank of America decreased their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. HC Wainwright dropped their target price on Neurocrine Biosciences from $190.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, February 7th. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Finally, Wedbush dropped their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $166.90.

Neurocrine Biosciences Trading Down 0.4 %

Shares of NBIX stock traded down $0.44 during mid-day trading on Monday, reaching $116.75. The stock had a trading volume of 767,723 shares, compared to its average volume of 1,329,831. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 35.42 and a beta of 0.33. The business's fifty day moving average is $138.28 and its 200-day moving average is $130.92.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted 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 return on equity of 13.45% and a net margin of 14.49%. On average, analysts forecast that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 1,091 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction dated Friday, January 31st. The shares were 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 owns 32,681 shares of the company's stock, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,647 shares of company stock valued at $33,186,271 over the last ninety days. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $25,000. Huntington National Bank increased its position in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Brooklyn Investment Group raised its stake in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. boosted its holdings 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 purchasing an additional 220 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after buying an additional 130 shares during the period. 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.