Neurocrine Biosciences (NASDAQ:NBIX) Given New $160.00 Price Target at Royal Bank Of Canada

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Royal Bank Of Canada from $156.00 to $160.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. Citigroup assumed coverage on Neurocrine Biosciences in a report on Tuesday, October 21st. They issued a “buy” rating and a $175.00 price objective on the stock. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Piper Sandler lifted their price objective on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a “buy” rating and a $182.00 price objective on the stock. Finally, Truist Financial assumed coverage on Neurocrine Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $163.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.00.

Neurocrine Biosciences Stock Down 6.4%

NASDAQ NBIX opened at $138.02 on Wednesday. The stock’s 50-day simple moving average is $140.64 and its two-hundred day simple moving average is $129.12. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $154.61. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 1.01 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a return on equity of 16.42% and a net margin of 15.95%.The business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. During the same quarter last year, the business posted $1.81 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director directly owned 514,596 shares of the company’s stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently modified their holdings of the business. Seizert Capital Partners LLC bought a new stake in shares of Neurocrine Biosciences in the third quarter worth about $9,832,000. Jackson Thornton Wealth Management LLC bought a new stake in Neurocrine Biosciences during the 3rd quarter valued at approximately $469,000. QTR Family Wealth LLC bought a new stake in Neurocrine Biosciences during the 3rd quarter valued at approximately $203,000. Allstate Corp bought a new stake in Neurocrine Biosciences during the 3rd quarter valued at approximately $473,000. Finally, NorthCrest Asset Manangement LLC boosted its position in Neurocrine Biosciences by 68.3% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 10,542 shares of the company’s stock valued at $1,444,000 after acquiring an additional 4,280 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

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.