Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $166.00 Consensus Target Price from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given a consensus rating of “Moderate Buy” by the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $166.29.

Several brokerages recently weighed in on NBIX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday. Wedbush reissued an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $136.53 on Friday. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 36.60 and a beta of 0.34. The stock’s 50 day simple moving average is $124.79 and its two-hundred day simple moving average is $130.60.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new position in Neurocrine Biosciences in the 2nd quarter worth $28,000. Innealta Capital LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth about $30,000. Blue Trust Inc. lifted its position in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of Neurocrine Biosciences by 44.1% during the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after buying an additional 130 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Neurocrine Biosciences during the 3rd quarter valued at approximately $63,000. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.