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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $166.00.

A number of analysts have recently commented on NBIX shares. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Wedbush restated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th.

Neurocrine Biosciences Trading Up 0.3 %

Shares of NASDAQ NBIX opened at $135.42 on Friday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 36.31 and a beta of 0.34. The stock has a 50-day moving average price of $123.99 and a two-hundred day moving average price of $130.61.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the 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 directly owns 2,507 shares of the company’s stock, valued at $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NBIX. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. Plato Investment Management Ltd lifted its stake in Neurocrine Biosciences by 44.1% during the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after acquiring an additional 130 shares during the period. Finally, Truvestments Capital LLC bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.