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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given a consensus recommendation of “Moderate Buy” by the twenty-four ratings firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $163.91.

Several brokerages have recently commented on NBIX. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Barclays cut their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Royal Bank of Canada reduced their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Oppenheimer boosted their price target on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $127.11 on Tuesday. Neurocrine Biosciences has a 52 week low of $110.52 and a 52 week high of $157.98. The firm’s 50-day simple moving average is $118.62 and its 200 day simple moving average is $131.89. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 34.08 and a beta of 0.35.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently bought and sold shares of NBIX. State Street Corp increased its stake 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 buying an additional 539,936 shares during the period. Renaissance Technologies LLC grew its holdings in Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares during the last quarter. Geode Capital Management LLC increased its position in Neurocrine Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after acquiring an additional 39,610 shares during the period. AQR Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after acquiring an additional 228,444 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Neurocrine Biosciences by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after purchasing an additional 13,069 shares during the period. 92.59% of the stock is currently 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.