Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $165.00 at Barclays

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by Barclays from $160.00 to $165.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 20.85% from the stock’s current price.

Several other analysts also recently commented on NBIX. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Wedbush restated an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th. Finally, BMO Capital Markets reduced their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.29.

Neurocrine Biosciences Stock Down 0.3 %

NBIX stock opened at $136.53 on Monday. The business has a 50 day moving average of $124.40 and a 200 day moving average of $130.59. The firm has a market cap of $13.82 billion, a PE ratio of 36.60 and a beta of 0.34. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the firm’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 in the company, valued at $338,445. The trade was 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 corporate insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after acquiring an additional 539,936 shares during the last quarter. 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 valued at $339,790,000 after purchasing an additional 216,500 shares during the last quarter. Geode Capital Management LLC raised 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 worth $213,773,000 after purchasing an additional 39,610 shares during the period. AQR Capital Management LLC lifted its stake in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 valued at $128,639,000 after buying an additional 13,069 shares during the period. Hedge funds and other 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.