Morgan Stanley Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $182.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective trimmed by Morgan Stanley from $196.00 to $182.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on NBIX. Piper Sandler raised their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Cantor Fitzgerald raised their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Stock Up 1.3%

NASDAQ:NBIX opened at $152.72 on Thursday. The stock has a market cap of $15.52 billion, a P/E ratio of 22.39, a PEG ratio of 0.54 and a beta of 0.39. The business’s 50-day moving average price is $167.98 and its two-hundred day moving average price is $148.23. Neurocrine Biosciences has a twelve month low of $122.14 and a twelve month high of $186.12.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider owned 16,225 shares in the company, valued at $2,937,049.50. This trade represents a 21.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 business’s 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 completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This represents a 61.18% 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. In the last quarter, insiders have sold 376,612 shares of company stock valued at $59,493,355. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Caisse de depot et placement du Quebec bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at about $91,002,000. Man Group plc purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at about $101,293,000. Roberts Glore & Co. Inc. IL bought a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $222,000. Jupiter Topco LLC bought a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $88,707,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Neurocrine Biosciences in the second quarter worth $19,578,000. 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.