Guggenheim Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $163.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lowered by equities researchers at Guggenheim from $165.00 to $163.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 32.93% from the company’s previous close.

A number of other analysts have also recently weighed in on NBIX. UBS Group increased their price target on 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 lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. HC Wainwright dropped their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $168.35.

Neurocrine Biosciences Stock Down 18.5 %

Shares of NASDAQ:NBIX opened at $122.62 on Monday. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The business has a fifty day simple moving average of $138.81 and a 200-day simple moving average of $131.52. The company has a market cap of $12.42 billion, a P/E ratio of 37.27 and a beta of 0.33.

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 return on equity of 13.45% and a net margin of 14.49%. Sell-side analysts expect that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock valued at $32,718,279 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in NBIX. State Street Corp raised its holdings in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after acquiring an additional 539,936 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Neurocrine Biosciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after purchasing an additional 39,610 shares during the last quarter. Braidwell LP raised its stake in shares of Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after purchasing an additional 158,665 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after buying an additional 12,040 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $115,193,000. 92.59% of the stock is owned by 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.