Morgan Stanley Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $173.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lowered by Morgan Stanley from $178.00 to $173.00 in a research report report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on NBIX. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Needham & Company LLC raised their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group increased their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Truist Financial reissued a “buy” rating and issued a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.53.

Neurocrine Biosciences Trading Down 1.8%

NBIX stock opened at $144.16 on Tuesday. The company has a market cap of $14.37 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. The stock has a 50-day moving average price of $142.63 and a two-hundred day moving average price of $132.42. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same period in the previous year, the company posted $1.81 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares in the company, valued at $6,127,455.20. The trade was a 30.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the completion of the sale, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. The trade was a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. Nisa Investment Advisors LLC grew its stake in Neurocrine Biosciences by 1,001.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 14,042 shares of the company’s stock valued at $1,553,000 after acquiring an additional 12,767 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Neurocrine Biosciences by 13.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 53,103 shares of the company’s stock valued at $5,873,000 after buying an additional 6,233 shares in the last quarter. Grandfield & Dodd LLC increased its holdings in Neurocrine Biosciences by 2.8% in the first quarter. Grandfield & Dodd LLC now owns 16,570 shares of the company’s stock worth $1,833,000 after buying an additional 459 shares during the last quarter. Hussman Strategic Advisors Inc. raised its position in Neurocrine Biosciences by 200.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 25,200 shares of the company’s stock valued at $2,787,000 after acquiring an additional 16,800 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Neurocrine Biosciences by 24.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 70,020 shares of the company’s stock valued at $7,745,000 after acquiring an additional 13,900 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.