Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $194.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by Wedbush from $185.00 to $194.00 in a report released on Monday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

NBIX has been the topic of a number of other reports. Royal Bank Of Canada upped their price objective on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Leerink Partners lifted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial boosted their target price on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the company a “buy” rating in a report on Monday, July 13th. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Finally, Piper Sandler upped their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $201.50.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $161.50 on Monday. The business’s 50 day simple moving average is $168.32 and its 200 day simple moving average is $147.15. Neurocrine Biosciences has a one year low of $122.14 and a one year high of $186.12. The stock has a market capitalization of $16.42 billion, a PE ratio of 23.68, a PEG ratio of 0.60 and a beta of 0.39.

Insider Activity at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director owned 1,588 shares in the company, valued at $289,031.88. The trade was a 44.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. This represents a 61.18% 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 quarter, insiders sold 395,422 shares of company stock worth $62,448,693. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. raised its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Meeder Asset Management Inc. raised its stake in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. Basecamp Wealth Advisors LLC boosted its holdings in 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 in the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences in the first quarter worth approximately $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.