Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $183.00 at Royal Bank Of Canada

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by Royal Bank Of Canada from $180.00 to $183.00 in a report released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on NBIX. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Piper Sandler increased their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Wells Fargo & Company decreased their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Citigroup increased their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $186.05.

Neurocrine Biosciences Trading Up 1.2%

NASDAQ:NBIX opened at $158.30 on Friday. The firm has a market capitalization of $15.92 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.17 and a beta of 0.34. The stock has a 50 day moving average of $139.36 and a 200-day moving average of $139.16. Neurocrine Biosciences has a 52 week low of $121.42 and a 52 week high of $162.39.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the transaction, the director directly owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 3,810 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total transaction of $590,588.10. Following the transaction, the director directly owned 2,429 shares in the company, valued at $376,519.29. The trade was a 61.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 278,786 shares of company stock valued at $43,099,615 in the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlTi Global Inc. boosted its stake in shares of Neurocrine Biosciences by 1.0% in the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after buying an additional 70 shares in the last quarter. Huntington National Bank boosted its stake in shares of Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after buying an additional 76 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after buying an additional 77 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after buying an additional 78 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its stake in shares of Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.