Mizuho Trims Neurocrine Biosciences (NASDAQ:NBIX) Target Price to $111.00

Posted by Defense World Staff on May 8th, 2023

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) had its price objective reduced by Mizuho from $116.00 to $111.00 in a research report released on Thursday morning, The Fly reports.

Several other equities research analysts have also recently commented on the stock. Citigroup dropped their price target on shares of Neurocrine Biosciences from $127.00 to $122.00 in a research report on Thursday. StockNews.com started coverage on shares of Neurocrine Biosciences in a research report on Thursday, March 16th. They issued a strong-buy rating on the stock. Canaccord Genuity Group raised Neurocrine Biosciences from a hold rating to a buy rating and lifted their price target for the stock from $124.00 to $132.00 in a research note on Thursday, March 30th. Evercore ISI raised Neurocrine Biosciences from an in-line rating to an outperform rating and set a $130.00 target price on the stock in a research note on Friday, March 3rd. Finally, Wedbush lowered their target price on Neurocrine Biosciences from $131.00 to $128.00 and set an outperform rating on the stock in a research note on Monday, April 17th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $125.21.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $97.40 on Thursday. Neurocrine Biosciences has a fifty-two week low of $75.25 and a fifty-two week high of $129.29. The firm’s 50-day simple moving average is $100.08 and its 200 day simple moving average is $109.46. The company has a quick ratio of 2.64, a current ratio of 3.83 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.50 billion, a P/E ratio of 162.34, a P/E/G ratio of 0.82 and a beta of 0.49.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. Neurocrine Biosciences had a net margin of 4.00% and a return on equity of 4.03%. The business had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $408.96 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company’s revenue was up 32.1% on a year-over-year basis. Equities analysts expect that Neurocrine Biosciences will post 2.53 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 26,328 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $102.40, for a total transaction of $2,695,987.20. Following the completion of the transaction, the chief financial officer now directly owns 24,333 shares in the company, valued at $2,491,699.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Neurocrine Biosciences news, Director William H. Rastetter sold 4,300 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $101.43, for a total value of $436,149.00. Following the sale, the director now directly owns 42,785 shares in the company, valued at $4,339,682.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matt Abernethy sold 26,328 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $102.40, for a total value of $2,695,987.20. Following the completion of the sale, the chief financial officer now owns 24,333 shares in the company, valued at $2,491,699.20. The disclosure for this sale can be found here. Insiders sold a total of 66,616 shares of company stock worth $6,874,125 over the last three months. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently made changes to their positions in the business. First Republic Investment Management Inc. grew its holdings in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. First Republic Investment Management Inc. now owns 11,069 shares of the company’s stock worth $1,322,000 after purchasing an additional 113 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Neurocrine Biosciences by 1.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,430 shares of the company’s stock worth $627,000 after purchasing an additional 120 shares during the last quarter. Securian Asset Management Inc. grew its holdings in shares of Neurocrine Biosciences by 1.4% during the fourth quarter. Securian Asset Management Inc. now owns 8,834 shares of the company’s stock worth $1,055,000 after purchasing an additional 121 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Neurocrine Biosciences by 6.7% during the third quarter. Larson Financial Group LLC now owns 1,940 shares of the company’s stock valued at $206,000 after acquiring an additional 122 shares during the period. Finally, MML Investors Services LLC lifted its stake in shares of Neurocrine Biosciences by 1.8% during the third quarter. MML Investors Services LLC now owns 7,092 shares of the company’s stock valued at $753,000 after acquiring an additional 123 shares during the period. Institutional investors own 92.58% of the company’s stock.

Neurocrine Biosciences Company Profile

(Get Rating)

Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.