Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) PT at $187.52

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average rating of “Moderate Buy” from the twenty-three brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $187.5238.

Several equities analysts recently issued reports on NBIX shares. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and set a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Finally, Wedbush lifted their price objective on 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 Performance

Neurocrine Biosciences stock opened at $168.52 on Wednesday. The business’s 50-day simple moving average is $151.99 and its 200-day simple moving average is $141.24. The firm has a market capitalization of $16.94 billion, a PE ratio of 25.97, a PEG ratio of 0.65 and a beta of 0.40. Neurocrine Biosciences has a 52 week low of $122.14 and a 52 week high of $169.57.

Insider Activity at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total value of $210,075.00. Following the transaction, the director directly owned 2,838 shares of the company’s stock, valued at $476,954.28. The trade was a 30.58% decrease in their position. The sale was disclosed in a legal filing 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 Julie Cooke sold 36,937 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 355,234 shares of company stock valued at $55,330,060. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBIX. USA Financial Formulas acquired a new position in Neurocrine Biosciences during the 4th quarter worth $25,000. Geneos Wealth Management Inc. raised its position 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 acquiring an additional 135 shares during the last quarter. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $28,000. Basecamp Wealth Advisors LLC raised its position in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after acquiring an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.