Truist Financial Issues Pessimistic Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its target price decreased by equities research analysts at Truist Financial from $169.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 9.05% from the stock’s current price.

NBIX has been the topic of several other research reports. Royal Bank Of Canada lowered their price target 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. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Monday. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target (up from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. TD Cowen increased their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.84.

Neurocrine Biosciences Stock Up 0.5%

Shares of NBIX stock opened at $128.38 on Tuesday. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company’s fifty day simple moving average is $138.43 and its 200-day simple moving average is $140.34. The firm has a market cap of $12.88 billion, a PE ratio of 27.55, a P/E/G ratio of 0.65 and a beta of 0.31.

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

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director owned 7,068 shares in the company, valued at $1,013,339.16. This trade represents a 67.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The stock was 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 of the company’s stock, valued at $18,632,008.90. This represents a 20.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,966 shares of company stock worth $8,625,166. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of the business. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 0.6% in the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after buying an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. grew its position in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after buying an additional 468,405 shares in the last quarter. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 18.0% during the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after acquiring an additional 498,058 shares during the period. Geode Capital Management LLC raised its holdings in Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after acquiring an additional 34,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after acquiring an additional 88,522 shares in the last quarter. 92.59% of the stock is 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.