Wedbush Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $147.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lowered by equities research analysts at Wedbush from $157.00 to $147.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 21.32% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Raymond James restated an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Morgan Stanley lifted 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. Finally, HC Wainwright decreased their price target on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Friday. Five equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.10.

Neurocrine Biosciences Trading Down 19.5 %

Shares of NBIX stock traded down $29.35 on Friday, reaching $121.16. 4,924,524 shares of the company’s stock were exchanged, compared to its average volume of 1,133,061. The stock has a market capitalization of $12.27 billion, a PE ratio of 32.49 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The company’s fifty day simple moving average is $138.89 and its 200 day simple moving average is $131.77.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. As a group, sell-side analysts predict that Neurocrine Biosciences will post 3.92 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the sale, the director now directly owns 517,030 shares in the company, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $294,381.99. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 222,693 shares of company stock valued at $32,718,279. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently modified their holdings of NBIX. Raymond James Financial Inc. purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $115,193,000. State Street Corp boosted its position in shares of 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 buying an additional 539,936 shares during the period. Jennison Associates LLC lifted its position in shares of Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 639.6% in the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after purchasing an additional 363,863 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Neurocrine Biosciences by 207.8% during the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after acquiring an additional 176,599 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.