Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received an average recommendation of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $174.25.

NBIX has been the topic of a number of recent research reports. Needham & Company LLC boosted their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lowered their price target on shares of Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial dropped their price target on shares of Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, January 8th.

Neurocrine Biosciences Trading Down 1.4%

NBIX stock opened at $136.06 on Friday. The firm has a 50-day moving average of $143.13 and a two-hundred day moving average of $140.26. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 0.73 and a beta of 0.28.

Insider Buying and Selling

In other news, Director William H. Rastetter sold 18,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares in the company, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,266 shares of company stock valued at $11,400,517 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after acquiring an additional 1,590,749 shares during the period. AQR Capital Management LLC increased its holdings in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new stake in Neurocrine Biosciences in the second quarter valued at approximately $122,278,000. Los Angeles Capital Management LLC lifted its stake in Neurocrine Biosciences by 19,454.9% during the second quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock worth $93,595,000 after purchasing an additional 740,842 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares during the period. Hedge funds and other institutional investors 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.