Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $166.00

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned a consensus rating of “Moderate Buy” from the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $166.29.

NBIX has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. Barclays boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Finally, Raymond James reiterated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $136.53 on Friday. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The stock has a market cap of $13.82 billion, a PE ratio of 36.60 and a beta of 0.34. The stock has a fifty day moving average of $124.79 and a 200-day moving average of $130.60.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently modified their holdings of NBIX. Plato Investment Management Ltd raised its position in Neurocrine Biosciences by 2,481.9% during the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the last quarter. Swiss National Bank increased its stake in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after buying an additional 4,100 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences during the third quarter valued at approximately $3,236,000. KBC Group NV lifted its stake in Neurocrine Biosciences by 78.3% in the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after acquiring an additional 8,332 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Neurocrine Biosciences by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock valued at $2,238,000 after acquiring an additional 7,597 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

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.