Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by analysts at Morgan Stanley from $170.00 to $185.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 22.35% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Wedbush reaffirmed an “outperform” rating and set a $148.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $166.85.

Neurocrine Biosciences Trading Down 0.8 %

NBIX stock opened at $151.20 on Tuesday. The firm has a market cap of $15.31 billion, a P/E ratio of 40.54 and a beta of 0.33. The stock’s 50 day simple moving average is $137.92 and its 200 day simple moving average is $131.51. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the sale, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock valued at $32,718,279 over the last three months. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $25,000. Brooklyn Investment Group boosted its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. grew its position in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. R Squared Ltd acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $61,000. Finally, UMB Bank n.a. lifted its position in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 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.