Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Expected to Rise, Wedbush Analyst Says

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by equities research analysts at Wedbush from $185.00 to $194.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 16.31% from the company’s current price.

NBIX has been the topic of several other research reports. Truist Financial boosted their price target on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, July 13th. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price objective for the company. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Morgan Stanley boosted their target price on shares of Neurocrine Biosciences from $193.00 to $196.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank Of Canada increased their target price on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $200.45.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $166.80 on Monday. The company has a market cap of $16.77 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.39. Neurocrine Biosciences has a 52 week low of $122.14 and a 52 week high of $186.12. The firm’s 50-day simple moving average is $167.81 and its two-hundred day simple moving average is $146.50.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were 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 approximately $2,621,975.20. This represents a 61.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares in the company, valued at approximately $5,435,772. The trade was a 30.32% 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 have sold 395,422 shares of company stock valued at $62,448,693 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its position 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 worth $25,000 after purchasing an additional 135 shares during the last quarter. DJE Kapital AG bought a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC lifted its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 1st quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. raised its position in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares in the last quarter. 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.