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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, MarketBeat Ratings 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 12 month target price among brokerages that have issued ratings on the stock in the last year is $164.81.

A number of research firms have issued reports on NBIX. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Piper Sandler restated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. BMO Capital Markets cut their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. Raymond James reissued an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Finally, 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.

Insider Buying and Selling

In other news, insider Ingrid Delaet sold 272 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,694 shares of company stock worth $9,676,730 in the last 90 days. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after buying an additional 504,400 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after acquiring an additional 363,863 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares during the period. Finally, Braidwell LP boosted its position in shares of Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after acquiring an additional 158,665 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Up 1.8 %

Shares of NASDAQ:NBIX opened at $145.88 on Wednesday. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 39.11 and a beta of 0.33. The business has a 50-day moving average price of $132.17 and a 200-day moving average price of $131.15.

Neurocrine Biosciences Company Profile

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.