JPMorgan Chase & Co. Lowers Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $177.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $179.00 to $177.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 33.83% from the company’s previous close.

A number of other equities research analysts also recently commented on NBIX. Stifel Nicolaus increased their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. TD Cowen upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Citigroup raised their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. UBS Group increased their target price on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Morgan Stanley restated an “equal weight” rating and set a $175.00 target price (up from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.10.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $132.26 on Monday. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company has a market cap of $13.19 billion, a P/E ratio of 31.64, a PEG ratio of 0.65 and a beta of 0.28. The stock has a fifty day moving average price of $145.95 and a 200 day moving average price of $139.91.

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

Insider Activity

In related news, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 43,866 shares of company stock valued at $6,570,237. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of the business. Dakota Wealth Management bought a new position in Neurocrine Biosciences in the 4th quarter valued at $310,000. E. Ohman J or Asset Management AB acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $498,000. Avanza Fonder AB boosted its stake in shares of Neurocrine Biosciences by 4.0% in the 4th quarter. Avanza Fonder AB now owns 3,890 shares of the company’s stock valued at $552,000 after purchasing an additional 149 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Neurocrine Biosciences by 785.6% during the 4th quarter. SG Americas Securities LLC now owns 134,530 shares of the company’s stock worth $19,080,000 after buying an additional 119,339 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Neurocrine Biosciences by 70.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 80,012 shares of the company’s stock worth $11,348,000 after buying an additional 33,065 shares during the period. 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.