Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Average Rating of “Moderate Buy” by Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $187.5238.

A number of equities research analysts have recently issued reports on NBIX shares. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. Leerink Partners upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Finally, HC Wainwright boosted their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th.

Neurocrine Biosciences Stock Down 0.1%

Neurocrine Biosciences stock opened at $161.44 on Wednesday. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $169.57. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.21 and a beta of 0.40. The company has a fifty day simple moving average of $149.78 and a 200-day simple moving average of $140.90.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the transaction, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. The sale 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 Kevin Charles Gorman sold 245,088 shares of the stock in a transaction dated Tuesday, May 19th. The stock was 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 approximately $78,907,848.69. This trade represents a 32.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 355,234 shares of company stock valued at $55,330,060 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares in the last quarter. Norges Bank acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $162,664,000. UBS Group AG grew its position in shares of Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after acquiring an additional 618,956 shares during the last quarter. First Trust Advisors LP grew its position in shares of Neurocrine Biosciences by 97.0% during the first quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after acquiring an additional 472,408 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $65,162,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.