Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $164.81 Consensus Target Price from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $164.81.

NBIX has been the subject of a number of research analyst reports. Raymond James reissued an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Wedbush reiterated an “outperform” rating and set a $148.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. HC Wainwright restated a “buy” rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. Royal Bank of Canada reduced 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 research note on Friday, October 4th. Finally, William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th.

Neurocrine Biosciences Trading Up 0.9 %

Shares of NASDAQ:NBIX opened at $143.26 on Wednesday. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 38.41 and a beta of 0.33. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The firm’s 50-day moving average is $131.84 and its 200 day moving average is $131.20.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,694 shares of company stock worth $9,676,730 over the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth about $28,000. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. grew its position in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. Plato Investment Management Ltd grew its position 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 purchasing an additional 130 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.