Morgan Stanley Lowers Neurocrine Biosciences (NBIX) Price Target to $135.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective reduced by Morgan Stanley from $145.00 to $135.00 in a research note published on Tuesday. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on NBIX. ICAP dropped their target price on Neurocrine Biosciences from $140.00 to $128.00 and set an outperform rating on the stock in a research report on Tuesday, September 4th. Oppenheimer set a $140.00 target price on Neurocrine Biosciences and gave the company a buy rating in a research report on Tuesday, September 4th. Cantor Fitzgerald assumed coverage on Neurocrine Biosciences in a research report on Friday, September 14th. They issued a buy rating and a $150.00 target price on the stock. Stifel Nicolaus boosted their price target on Neurocrine Biosciences from $137.00 to $142.00 and gave the stock a buy rating in a research report on Thursday, September 20th. Finally, BidaskClub lowered Neurocrine Biosciences from a buy rating to a hold rating in a research report on Saturday, September 15th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $124.88.

Neurocrine Biosciences stock traded down $3.51 during midday trading on Tuesday, reaching $104.80. The stock had a trading volume of 22,792 shares, compared to its average volume of 780,514. Neurocrine Biosciences has a 1-year low of $67.32 and a 1-year high of $126.98. The firm has a market cap of $9.66 billion, a PE ratio of -64.86, a P/E/G ratio of 38.23 and a beta of 0.94.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. Neurocrine Biosciences had a return on equity of 2.54% and a net margin of 2.40%. The business had revenue of $151.80 million for the quarter, compared to analyst estimates of $151.51 million. During the same quarter last year, the firm earned ($0.13) EPS. Neurocrine Biosciences’s revenue for the quarter was up 149.7% compared to the same quarter last year. As a group, analysts anticipate that Neurocrine Biosciences will post 0.15 EPS for the current fiscal year.

In related news, insider Malcolm Lloyd-Smith sold 9,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $110.01, for a total value of $990,090.00. Following the completion of the sale, the insider now directly owns 21,018 shares in the company, valued at approximately $2,312,190.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary A. Lyons sold 15,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $114.41, for a total value of $1,716,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,500 shares of company stock worth $3,295,455 over the last three months. 4.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Victory Capital Management Inc. boosted its stake in Neurocrine Biosciences by 60.5% in the 3rd quarter. Victory Capital Management Inc. now owns 605,135 shares of the company’s stock valued at $74,402,000 after purchasing an additional 228,163 shares during the period. Braun Stacey Associates Inc. bought a new stake in Neurocrine Biosciences in the 2nd quarter valued at $14,333,000. Mainstay Capital Management LLC ADV boosted its stake in Neurocrine Biosciences by 3,156.2% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 134,970 shares of the company’s stock valued at $1,624,000 after purchasing an additional 130,825 shares during the period. Boston Advisors LLC boosted its stake in Neurocrine Biosciences by 571.3% in the 2nd quarter. Boston Advisors LLC now owns 131,481 shares of the company’s stock valued at $12,917,000 after purchasing an additional 111,896 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Neurocrine Biosciences by 87.4% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 150,069 shares of the company’s stock valued at $18,451,000 after purchasing an additional 69,969 shares during the period.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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