Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average rating of “Moderate Buy” from the twenty-four research firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $163.91.

Several equities analysts have recently weighed in on NBIX shares. BMO Capital Markets reduced their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Robert W. Baird upped their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Tuesday, October 29th. Finally, Morgan Stanley upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 11,570 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total value of $1,740,475.10. Following the transaction, the director now owns 119,047 shares in the company, valued at $17,908,240.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gary A. Lyons sold 11,570 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the sale, the director now directly owns 119,047 shares in the company, valued at $17,908,240.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,063 shares of company stock worth $7,023,330 over the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Vanguard Group Inc. raised its position in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after purchasing an additional 220,598 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after acquiring an additional 216,500 shares in the last quarter. AQR Capital Management LLC lifted its stake in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares during the period. Bank of New York Mellon Corp boosted its holdings in Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after acquiring an additional 13,069 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Neurocrine Biosciences by 40.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock valued at $97,828,000 after purchasing an additional 203,934 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $121.53 on Friday. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 32.58 and a beta of 0.35. The company’s fifty day simple moving average is $118.51 and its two-hundred day simple moving average is $133.33. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98.

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.