Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Free Report) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $194.0476.

NBIX has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target for the company. HC Wainwright increased their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th.

Check Out Our Latest Analysis on NBIX

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. The sale 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, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 394,172 shares of company stock valued at $62,221,181. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Nilsine Partners LLC purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $1,197,000. Ruffer LLP purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $2,479,000. Nordea Investment Management AB raised its position in shares of Neurocrine Biosciences by 81.3% in the fourth quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock valued at $3,834,000 after buying an additional 12,195 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after buying an additional 7,935 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Neurocrine Biosciences by 785.6% in the fourth quarter. SG Americas Securities LLC now owns 134,530 shares of the company’s stock valued at $19,080,000 after buying an additional 119,339 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.9%

Shares of NBIX opened at $175.77 on Friday. The stock’s 50 day moving average is $165.53 and its two-hundred day moving average is $144.95. Neurocrine Biosciences has a twelve month low of $122.14 and a twelve month high of $181.18. The firm has a market capitalization of $17.67 billion, a PE ratio of 27.08, a P/E/G ratio of 0.70 and a beta of 0.39.

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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