Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $195.00 at Royal Bank Of Canada

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective hoisted by research analysts at Royal Bank Of Canada from $183.00 to $195.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 9.55% from the stock’s previous close.

Several other research analysts also recently commented on NBIX. Guggenheim reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Morgan Stanley increased their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wedbush lifted their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $188.10.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $3.90 on Tuesday, reaching $178.00. 366,509 shares of the company’s stock were exchanged, compared to its average volume of 1,177,133. The firm has a market cap of $17.90 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 0.69 and a beta of 0.39. The stock has a fifty day simple moving average of $156.87 and a 200-day simple moving average of $141.91. Neurocrine Biosciences has a 52 week low of $122.14 and a 52 week high of $178.66.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the sale, the director owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This trade represents a 32.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 365,234 shares of company stock valued at $57,031,540 over the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares during the last quarter. Huntington National Bank lifted its position in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after acquiring an additional 76 shares during the period. Perigon Wealth Management LLC lifted its position in Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after acquiring an additional 78 shares during the period. Motley Fool Asset Management LLC grew its stake in Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. Finally, Main Management ETF Advisors LLC grew its stake in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after purchasing an additional 80 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.