Neurocrine Biosciences (NASDAQ:NBIX) Price Target Lowered to $144.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reduced its price target for Neurocrine Biosciences from $146.00 to $144.00, maintaining an "outperform" rating which suggests a potential upside of 10.91%.
• Neurocrine Biosciences reported a quarterly earnings per share (EPS) of $1.06, exceeding analysts' estimates of $0.98, with a revenue of $687.5 million for the quarter, marking a 16.5% year-over-year increase.
• Recent insider transactions show significant sales of company stock, with 30,000 shares sold by Director William H. Rastetter and 59,819 shares sold by insider Jude Onyia, indicating notable changes in insider holdings.

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price target reduced by Royal Bank Of Canada from $146.00 to $144.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on NBIX. Morgan Stanley lifted their target price on shares of Neurocrine Biosciences from $148.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. HC Wainwright lowered their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus lifted their target price on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a report on Thursday. Evercore ISI lowered their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.90.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $0.68 during trading on Thursday, reaching $128.91. The company's stock had a trading volume of 1,395,006 shares, compared to its average volume of 901,206. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 1.32 and a beta of 0.25. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.40. The business's fifty day moving average price is $128.26 and its 200-day moving average price is $120.88.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. Neurocrine Biosciences's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the transaction, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. This trade represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 120,251 shares of company stock worth $14,978,602 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Huntington National Bank increased its position in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Neurocrine Biosciences in the first quarter worth $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences in the first quarter worth $34,000. Finally, GeoWealth Management LLC increased its position in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after acquiring an additional 102 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.