Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Recommendation of “Moderate Buy” by Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $164.81.

Several research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James reissued an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th.

Neurocrine Biosciences Trading Down 2.5 %

NASDAQ:NBIX opened at $139.51 on Wednesday. The stock has a 50 day moving average of $130.79 and a two-hundred day moving average of $131.03. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The firm has a market cap of $14.12 billion, a P/E ratio of 37.40 and a beta of 0.33.

Insider Transactions at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,694 shares of company stock worth $479,230 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences during the second quarter worth about $28,000. Blue Trust Inc. lifted its stake in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Neurocrine Biosciences by 44.1% during the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after acquiring an additional 130 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $63,000. Finally, True Wealth Design LLC raised its holdings in shares of Neurocrine Biosciences by 11,740.0% in the 3rd quarter. True Wealth Design LLC now owns 592 shares of the company’s stock valued at $68,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds 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.