Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $201.50 Average PT from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $200.8636.

Several research analysts recently weighed in on NBIX shares. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price on the stock. Stifel Nicolaus raised their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wedbush boosted their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th.

Neurocrine Biosciences Trading Up 1.3%

Shares of NBIX opened at $152.72 on Thursday. Neurocrine Biosciences has a 12 month low of $122.14 and a 12 month high of $186.12. The stock has a fifty day moving average price of $167.98 and a 200-day moving average price of $148.23. The firm has a market cap of $15.52 billion, a PE ratio of 22.39, a P/E/G ratio of 0.54 and a beta of 0.39.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the transaction, the director owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction on 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 sale, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. 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 376,612 shares of company stock worth $59,493,355 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $28,000. Geneos Wealth Management Inc. increased its holdings in shares of Neurocrine Biosciences by 143.6% in the first 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 period. Meeder Asset Management Inc. increased its holdings in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. Basecamp Wealth Advisors LLC raised its stake in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the first quarter worth about $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.