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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given an average rating of “Moderate Buy” by the twenty-three brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $186.0476.

A number of equities research analysts have recently issued reports on NBIX shares. Piper Sandler upped their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Guggenheim reiterated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Truist Financial upped their price objective on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, BMO Capital Markets decreased their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th.

Neurocrine Biosciences Price Performance

NBIX stock opened at $158.30 on Friday. The business has a 50 day simple moving average of $139.36 and a 200-day simple moving average of $139.16. The firm has a market capitalization of $15.92 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences has a 1 year low of $121.42 and a 1 year high of $162.39.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the transaction, the director directly owned 511,293 shares in the company, valued at approximately $78,907,848.69. This represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David W. Boyer sold 3,888 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $156.64, for a total value of $609,016.32. Following the completion of the transaction, the insider owned 7,799 shares in the company, valued at $1,221,635.36. This represents a 33.27% 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. Insiders sold a total of 278,786 shares of company stock valued at $43,099,615 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. Golden State Wealth Management LLC lifted its stake in Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $28,000. Geneos Wealth Management Inc. raised its stake in shares of Neurocrine Biosciences by 143.6% in the first 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. Finally, Meeder Asset Management Inc. raised its stake in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.