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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Free Report) have received a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $187.5238.

NBIX has been the topic of several analyst reports. Wedbush boosted their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Guggenheim reaffirmed a “buy” rating and issued a $175.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Leerink Partners boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company lowered their target price on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th.

View Our Latest Analysis on NBIX

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $156.71, for a total value of $354,321.31. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,542,619.75. This represents a 12.23% decrease in their position. The transaction was disclosed in a document filed 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 Jude Onyia sold 11,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. The trade was a 29.85% 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 have sold 328,984 shares of company stock worth $50,986,985 in the last quarter. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after buying an additional 180,100 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after acquiring an additional 88,522 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $163.88 on Friday. The firm has a market capitalization of $16.48 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.40. The company’s fifty day moving average price is $142.73 and its two-hundred day moving average price is $139.71. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $169.57.

About Neurocrine Biosciences

(Get Free Report)

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.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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