Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $192.86

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have received a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $194.0476.

A number of equities research analysts recently issued reports on NBIX shares. HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. Truist Financial boosted their target price on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the company a “buy” rating in a report on Monday, July 13th. BMO Capital Markets raised their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 10th.

Neurocrine Biosciences Stock Up 3.5%

Shares of NBIX opened at $179.05 on Friday. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $181.18. The stock has a fifty day simple moving average of $164.65 and a two-hundred day simple moving average of $144.28. The company has a market capitalization of $18.00 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 394,172 shares of company stock valued at $62,221,181 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after acquiring an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after acquiring an additional 5,577 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. increased its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.