Royal Bank of Canada Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $133.00

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price target cut by Royal Bank of Canada from $136.00 to $133.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other brokerages also recently issued reports on NBIX. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Sunday, August 4th. Robert W. Baird raised their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a buy rating in a research note on Monday, August 19th. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of Moderate Buy and an average target price of $162.08.

Neurocrine Biosciences Stock Performance

NBIX stock traded up $2.12 during trading on Friday, reaching $114.00. 784,041 shares of the company were exchanged, compared to its average volume of 860,627. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98. The company has a market cap of $11.47 billion, a P/E ratio of 31.04 and a beta of 0.36. The stock's 50 day moving average price is $132.94 and its 200 day moving average price is $136.74.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to analysts' expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business's revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. As a group, equities research analysts forecast that Neurocrine Biosciences will post 4.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Gary A. Lyons sold 930 shares of the company's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares of the company's stock, valued at $17,860,621.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Julie Cooke sold 12,632 shares of the business's stock in a transaction on 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 transaction, the insider now directly 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 document filed with the SEC, which is available at this hyperlink. Also, Director Gary A. Lyons sold 930 shares of the firm's stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the sale, the director now directly owns 119,047 shares of the company's stock, valued at approximately $17,860,621.41. 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 three months, insiders sold 61,798 shares of company stock valued at $9,274,196. Company insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RFP Financial Group LLC raised its position in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Mather Group LLC. bought a new position in Neurocrine Biosciences during the 1st quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth about $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at about $32,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.