Bank of America Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $179.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by Bank of America from $184.00 to $179.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets reduced their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Piper Sandler reiterated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.81.

Neurocrine Biosciences Stock Down 18.5 %

NASDAQ:NBIX opened at $122.62 on Friday. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33. The stock’s 50 day moving average price is $138.89 and its two-hundred day moving average price is $131.77.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly 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 return on equity of 13.45% and a net margin of 14.49%. As a group, analysts anticipate that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock worth $32,718,279 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Brooklyn Investment Group increased its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after acquiring an additional 220 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $61,000. Institutional investors own 92.59% of the company’s stock.

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.