Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $200.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price hoisted by Guggenheim from $175.00 to $200.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets raised their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Leerink Partners increased their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $194.05.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $174.15 on Tuesday. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39. The business has a 50-day moving average of $165.18 and a two-hundred day moving average of $144.73. Neurocrine Biosciences has a 1 year low of $122.14 and a 1 year high of $181.18.

Insiders Place Their Bets

In other news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total transaction of $210,075.00. Following the transaction, the director directly owned 2,838 shares in the company, 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 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 Julie Cooke sold 36,937 shares of the firm’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 transaction of $5,770,298.14. Following the transaction, 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. In the last three months, insiders sold 394,172 shares of company stock valued at $62,221,181. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. increased its position in Neurocrine Biosciences by 143.6% in 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 period. DJE Kapital AG purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC raised its stake in 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 acquired a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $33,000. 92.59% of the stock is owned by hedge funds and other 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.