Guggenheim Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $200.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target boosted by equities research analysts at Guggenheim from $175.00 to $200.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 15.81% from the stock’s current price.

A number of other equities analysts also recently weighed in on NBIX. Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Royal Bank Of Canada boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $194.05.

Neurocrine Biosciences Stock Down 3.6%

Shares of NASDAQ NBIX opened at $172.69 on Tuesday. The firm’s 50-day simple moving average is $164.88 and its 200 day simple moving average is $144.50. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences has a 12-month low of $122.14 and a 12-month high of $181.18.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the sale, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 394,172 shares of company stock worth $62,221,181 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after purchasing an additional 68 shares during the last quarter. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after buying an additional 78 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after buying an additional 78 shares during the period. Finally, Main Management ETF Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after buying an additional 80 shares during the period. 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.