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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $164.81.

Several equities analysts recently issued reports on the stock. Royal Bank of Canada cut their price objective 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 reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. BMO Capital Markets decreased their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $139.51 on Wednesday. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 37.40 and a beta of 0.33. The company’s 50-day simple moving average is $130.79 and its two-hundred day simple moving average is $131.03.

Insider Activity

In other news, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction on 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 in the company, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,694 shares of company stock valued at $479,230. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. lifted its holdings in Neurocrine Biosciences by 4.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after acquiring an additional 100 shares during the period. Commerce Bank lifted its stake in shares of Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Neurocrine Biosciences by 2.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock worth $496,000 after buying an additional 113 shares in the last quarter. Tealwood Asset Management Inc. grew its position in Neurocrine Biosciences by 1.0% during the fourth quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,626,000 after buying an additional 118 shares during the period. Finally, Plato Investment Management Ltd increased its holdings in Neurocrine Biosciences by 44.1% in the second 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. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.