Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $187.52 Average Price Target from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given an average recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $187.5238.

Several equities analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Finally, HC Wainwright boosted their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares of the company’s stock, valued at $3,495,266.28. The trade was a 62.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 365,234 shares of company stock worth $57,031,540 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in Neurocrine Biosciences by 0.5% during the 1st 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 period. Huntington National Bank lifted its position in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Neurocrine Biosciences by 3.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the period. Motley Fool Asset Management LLC lifted its position in shares of Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the period. Finally, Main Management ETF Advisors LLC lifted its position in shares of Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $168.54 on Wednesday. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $171.50. The company has a market capitalization of $16.95 billion, a P/E ratio of 25.97, a P/E/G ratio of 0.68 and a beta of 0.40. The company has a fifty day moving average of $153.53 and a 200-day moving average of $141.34.

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.