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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received an average rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $187.5238.

Several equities analysts have commented on the stock. Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday. They issued a “buy” rating and a $213.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. HC Wainwright raised their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Finally, Wedbush raised their target price 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.

Neurocrine Biosciences Stock Up 6.6%

Shares of Neurocrine Biosciences stock opened at $165.11 on Friday. Neurocrine Biosciences has a twelve month low of $122.14 and a twelve month high of $165.81. The company has a 50-day simple moving average of $141.29 and a two-hundred day simple moving average of $139.38. The stock has a market capitalization of $16.60 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 3,810 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total value of $590,588.10. Following the transaction, the director directly owned 2,429 shares of the company’s stock, valued at $376,519.29. This trade represents a 61.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 34,480 shares in the company, valued at approximately $5,435,772. This represents a 30.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 292,047 shares of company stock worth $45,216,687. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of NBIX. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Golden State Wealth Management LLC grew its holdings in shares of Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. grew its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings 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 purchasing an additional 202 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

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.