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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by equities researchers at Guggenheim from $175.00 to $200.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 12.45% from the stock’s current price.

A number of other research firms have also weighed in on NBIX. Sanford C. Bernstein began coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price on the stock. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Wedbush increased their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Citigroup lifted their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $194.05.

Neurocrine Biosciences Trading Up 2.8%

NASDAQ:NBIX traded up $4.85 on Tuesday, hitting $177.85. The company’s stock had a trading volume of 119,240 shares, compared to its average volume of 1,167,579. The stock has a fifty day moving average of $164.19 and a two-hundred day moving average of $144.02. The firm has a market capitalization of $17.88 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 0.68 and a beta of 0.39. Neurocrine Biosciences has a one year low of $122.14 and a one year high of $181.18.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $168.06, for a total transaction of $210,075.00. Following the sale, the director directly owned 2,838 shares of the company’s stock, valued at approximately $476,954.28. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 dated 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 sale, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% 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. Insiders have sold a total of 394,172 shares of company stock worth $62,221,181 over the last three months. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in NBIX. Generali Investments Management Co LLC increased its position in Neurocrine Biosciences by 19.8% in the 2nd quarter. Generali Investments Management Co LLC now owns 10,644 shares of the company’s stock valued at $1,794,000 after acquiring an additional 1,762 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Neurocrine Biosciences by 9.6% during the second quarter. Handelsbanken Fonder AB now owns 205,871 shares of the company’s stock valued at $34,696,000 after acquiring an additional 18,004 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Neurocrine Biosciences by 5.2% during the second quarter. Fulton Bank N.A. now owns 4,895 shares of the company’s stock worth $825,000 after purchasing an additional 243 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Neurocrine Biosciences during the second quarter worth $283,000. Finally, Trust Point Inc. bought a new stake in shares of Neurocrine Biosciences in the second quarter worth $245,000. 92.59% of the stock is owned by institutional investors.

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.