Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $169.00 at Truist Financial

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by Truist Financial from $172.00 to $169.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 23.26% from the company’s current price.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group increased their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. TD Cowen boosted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Zacks Research cut Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.20.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded down $3.52 during midday trading on Thursday, hitting $137.11. 422,401 shares of the company were exchanged, compared to its average volume of 1,073,412. The firm has a 50 day simple moving average of $146.56 and a 200-day simple moving average of $139.61. The firm has a market cap of $13.67 billion, a P/E ratio of 32.80, a PEG ratio of 0.67 and a beta of 0.28. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. During the same period in the prior year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This trade represents a 0.21% 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, Director Leslie V. Norwalk sold 5,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $152.23, for a total transaction of $761,150.00. Following the sale, the director owned 7,429 shares of the company’s stock, valued at $1,130,916.67. The trade was a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,866 shares of company stock valued at $6,570,237 over the last three months. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors have recently modified their holdings of the business. AlTi Global Inc. raised its holdings in Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after buying an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Neurocrine Biosciences by 0.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after purchasing an additional 77 shares during the period. Diametric Capital LP boosted its stake in Neurocrine Biosciences by 2.6% in the 2nd quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock worth $408,000 after purchasing an additional 81 shares during the period. Great Lakes Advisors LLC increased its holdings in Neurocrine Biosciences by 2.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after purchasing an additional 84 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock valued at $273,000 after purchasing an additional 88 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.