Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus rating of “Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $68.25.

Several brokerages recently weighed in on NBIX. Barclays PLC increased their price target on shares of Neurocrine Biosciences from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. Cowen and Company reiterated an “outperform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Neurocrine Biosciences in a report on Wednesday, August 9th. BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Bank of America Corporation began coverage on shares of Neurocrine Biosciences in a report on Friday, May 5th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Jefferies Group LLC increased their price target on shares of Neurocrine Biosciences from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, May 1st.

Neurocrine Biosciences (NBIX) opened at 53.12 on Friday. The stock’s market cap is $4.69 billion. The company has a 50 day moving average of $49.32 and a 200-day moving average of $47.18. Neurocrine Biosciences has a 12-month low of $37.35 and a 12-month high of $55.38.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.01. The company had revenue of $6.34 million for the quarter, compared to the consensus estimate of $0.61 million. During the same quarter in the previous year, the business posted ($0.46) EPS. Equities analysts forecast that Neurocrine Biosciences will post ($2.45) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/18/neurocrine-biosciences-inc-nbix-receives-average-rating-of-buy-from-brokerages.html.

In other news, insider Christopher Flint Obrien sold 8,734 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $436,700.00. Following the transaction, the insider now owns 57,707 shares in the company, valued at approximately $2,885,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haig P. Bozigian sold 22,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $50.00, for a total value of $1,125,000.00. Following the transaction, the insider now owns 154,601 shares in the company, valued at approximately $7,730,050. The disclosure for this sale can be found here. Insiders have sold a total of 56,588 shares of company stock worth $2,940,070 in the last quarter. Insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Independent Portfolio Consultants Inc. acquired a new position in shares of Neurocrine Biosciences during the first quarter worth about $106,000. The Manufacturers Life Insurance Company raised its position in shares of Neurocrine Biosciences by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after buying an additional 193 shares during the period. First Mercantile Trust Co. raised its position in shares of Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock worth $133,000 after buying an additional 560 shares during the period. ARS Investment Partners LLC acquired a new position in shares of Neurocrine Biosciences during the second quarter worth about $207,000. Finally, Stephens Inc. AR acquired a new position in shares of Neurocrine Biosciences during the second quarter worth about $207,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

Receive News & Ratings for Neurocrine Biosciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurocrine Biosciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.