Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $163.91

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $163.91.

Several brokerages recently weighed in on NBIX. Raymond James reiterated an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. HC Wainwright reissued a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Finally, Citigroup boosted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $126.59 on Tuesday. The stock has a 50-day moving average of $119.09 and a two-hundred day moving average of $131.67. The stock has a market cap of $12.82 billion, a P/E ratio of 33.94 and a beta of 0.35. Neurocrine Biosciences has a one year low of $110.81 and a one year high of $157.98.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after acquiring an additional 539,936 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after purchasing an additional 216,500 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Neurocrine Biosciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after purchasing an additional 39,610 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Neurocrine Biosciences by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after buying an additional 13,069 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

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.