Neurocrine Biosciences (NASDAQ:NBIX) Price Target Cut to $140.00 by Analysts at Truist Financial

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective cut by Truist Financial from $169.00 to $140.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 8.10% from the stock’s current price.

Several other research firms also recently issued reports on NBIX. JPMorgan Chase & Co. dropped their price target on shares of Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Citigroup raised their target price on Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada dropped their target price on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Wedbush increased their price target on Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, UBS Group lowered their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $175.89.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded up $5.40 during midday trading on Tuesday, hitting $129.52. 403,174 shares of the company were exchanged, compared to its average volume of 1,225,657. The company has a market cap of $13.00 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The company’s fifty day moving average price is $139.52 and its 200-day moving average price is $140.44.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the prior year, the business earned $1.69 EPS. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the sale, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 61,966 shares of company stock worth $8,625,166. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after acquiring an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new position in Neurocrine Biosciences during the 1st quarter valued at approximately $1,333,000. Finally, Geneos Wealth Management Inc. grew its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.