Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $169.20

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $166.90.

Several equities research analysts have recently commented on the stock. Guggenheim dropped their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Morgan Stanley increased their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. UBS Group lifted their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd.

Neurocrine Biosciences Stock Down 1.6 %

NASDAQ:NBIX opened at $116.85 on Friday. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The stock has a market cap of $11.83 billion, a P/E ratio of 35.52 and a beta of 0.33. The business’s 50-day moving average price is $138.66 and its two-hundred day moving average price is $131.23.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. On average, equities research analysts expect that Neurocrine Biosciences will post 6.53 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now owns 3,442 shares in the company, valued at $513,856.18. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,693 shares of company stock worth $32,718,279. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently modified their holdings of the stock. Caprock Group LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at about $236,000. Plato Investment Management Ltd boosted its position in Neurocrine Biosciences by 2,481.9% in the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after buying an additional 10,548 shares during the last quarter. Swiss National Bank increased its holdings in Neurocrine Biosciences by 1.4% in the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after buying an additional 4,100 shares during the period. Tri Ri Asset Management Corp purchased a new position in Neurocrine Biosciences during the 3rd quarter worth approximately $3,236,000. Finally, KBC Group NV lifted its stake in Neurocrine Biosciences by 78.3% during the 3rd quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after acquiring an additional 8,332 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.