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

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Neurocrine Biosciences (NASDAQ:NBIX) had its target price reduced by Morgan Stanley from $145.00 to $135.00 in a report issued on Tuesday. Morgan Stanley currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald set a $150.00 price target on shares of Neurocrine Biosciences and gave the company a buy rating in a research note on Monday, November 5th. Oppenheimer set a $140.00 price target on shares of Neurocrine Biosciences and gave the company a buy rating in a research note on Monday, November 5th. Piper Jaffray Companies set a $111.00 price target on shares of Neurocrine Biosciences and gave the company a buy rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $137.00 to $142.00 and gave the company a buy rating in a research note on Thursday, September 20th. Finally, BidaskClub cut shares of Neurocrine Biosciences from a buy rating to a hold rating in a research note on Saturday, September 15th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $124.88.

Neurocrine Biosciences stock traded down $2.90 during trading on Tuesday, reaching $105.41. The company had a trading volume of 744,889 shares, compared to its average volume of 776,003. Neurocrine Biosciences has a 1-year low of $67.32 and a 1-year high of $126.98. The stock has a market capitalization of $9.84 billion, a P/E ratio of -65.07, a P/E/G ratio of 34.87 and a beta of 0.94.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Neurocrine Biosciences had a net margin of 2.40% and a return on equity of 2.54%. The firm had revenue of $151.80 million for the quarter, compared to analysts’ expectations of $151.51 million. During the same quarter last year, the company earned ($0.13) EPS. The firm’s revenue for the quarter was up 149.7% compared to the same quarter last year. On average, sell-side analysts predict that Neurocrine Biosciences will post 0.17 EPS for the current fiscal year.

In other Neurocrine Biosciences news, Director Richard F. Pops sold 5,500 shares of Neurocrine Biosciences stock in a transaction on Monday, October 29th. The shares were sold at an average price of $107.13, for a total transaction of $589,215.00. Following the sale, the director now owns 37,759 shares of the company’s stock, valued at approximately $4,045,121.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary A. Lyons sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $114.41, for a total transaction of $1,716,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,500 shares of company stock worth $3,295,455. 4.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Neurocrine Biosciences by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 78,956 shares of the company’s stock worth $6,547,000 after acquiring an additional 1,234 shares during the period. Fox Run Management L.L.C. purchased a new stake in Neurocrine Biosciences in the 3rd quarter valued at about $234,000. Cubist Systematic Strategies LLC purchased a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $216,000. Swiss National Bank raised its holdings in Neurocrine Biosciences by 1.8% in the 2nd quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $15,375,000 after buying an additional 2,800 shares during the period. Finally, NumerixS Investment Technologies Inc raised its holdings in Neurocrine Biosciences by 90.9% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the company’s stock valued at $204,000 after buying an additional 1,000 shares during the period.

About Neurocrine Biosciences

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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