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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $194.0476.

Several equities research analysts have recently commented on the company. Guggenheim upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets upped their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. Canaccord Genuity Group lifted 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, Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the transaction, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 394,172 shares of company stock worth $62,221,181. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. 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 acquiring an additional 135 shares in the last quarter. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC increased its stake in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter worth $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $174.15 on Friday. Neurocrine Biosciences has a one year low of $122.14 and a one year high of $181.18. The stock has a fifty day moving average of $165.18 and a 200-day moving average of $144.73. The company has a market capitalization of $17.51 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39.

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.