Bank of America Has Lowered Expectations for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective dropped by Bank of America from $184.00 to $179.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 18.93% from the company’s current price.

Several other research firms have also recently commented on NBIX. Morgan Stanley boosted their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday. Wedbush reiterated an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.43.

Neurocrine Biosciences Trading Down 0.5 %

Neurocrine Biosciences stock opened at $150.51 on Friday. The firm has a market capitalization of $15.24 billion, a P/E ratio of 40.35 and a beta of 0.33. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The business has a 50-day moving average of $138.41 and a 200-day moving average of $131.64.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data 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%. Research analysts anticipate that Neurocrine Biosciences will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the sale, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock valued at $32,718,279 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently modified their holdings of NBIX. Cetera Investment Advisers lifted its position in shares of Neurocrine Biosciences by 7.9% during the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after buying an additional 519 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth $510,000. GAMMA Investing LLC lifted its position in shares of Neurocrine Biosciences by 11.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,738 shares of the company’s stock worth $200,000 after buying an additional 185 shares during the last quarter. CWM LLC lifted its position in shares of Neurocrine Biosciences by 15.1% during the 3rd quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after buying an additional 1,035 shares during the last quarter. Finally, Perpetual Ltd lifted its position in shares of Neurocrine Biosciences by 96.6% during the 3rd quarter. Perpetual Ltd now owns 12,560 shares of the company’s stock worth $1,447,000 after buying an additional 6,170 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.