Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $164.81 Consensus Price Target from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given an average rating of “Moderate Buy” by the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $164.81.

Several equities research analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. UBS Group upped their price target on Neurocrine Biosciences from $142.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $143.26 on Wednesday. The stock has a market cap of $14.50 billion, a P/E ratio of 38.41 and a beta of 0.33. The firm has a 50-day moving average of $131.84 and a two-hundred day moving average of $131.11. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98.

Insiders Place Their Bets

In other news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,694 shares of company stock worth $9,676,730. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $28,000. Brooklyn Investment Group increased its position in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the period. Blue Trust Inc. boosted its position in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Plato Investment Management Ltd boosted its stake in Neurocrine Biosciences by 44.1% during the second quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after acquiring an additional 130 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the period. Institutional investors 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.