Neurocrine Biosciences (NASDAQ:NBIX) Trading Down 4.9% on Analyst Downgrade

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) was down 4.9% during mid-day trading 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. Approximately 1,568,535 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 1,217,145 shares. The stock had previously closed at $122.62.

Several other equities research analysts have also issued reports on NBIX. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler reiterated an "overweight" rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, December 23rd. Canaccord Genuity Group dropped 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 report on Friday, February 7th. Finally, William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average price target of $166.90.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Cooke sold 700 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the sale, the insider now owns 18,831 shares in the company, valued at $2,227,330.68. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,647 shares of company stock valued at $33,186,271. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the company. HighPoint Advisor Group LLC boosted its holdings in Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after acquiring an additional 96 shares during the period. Huntington National Bank lifted its position in shares of 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. Louisiana State Employees Retirement System boosted its stake in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after purchasing an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Neurocrine Biosciences by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company's stock valued at $3,052,000 after purchasing an additional 103 shares during the period. Finally, Metis Global Partners LLC grew its holdings in shares of Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock worth $348,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 0.3 %

The company's 50 day moving average is $138.28 and its 200 day moving average is $130.92. The company has a market cap of $11.83 billion, a PE ratio of 35.53 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.00 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%. Analysts expect that Neurocrine Biosciences, Inc. will post 6.53 EPS for the current year.

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.