Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts rate Neurocrine Biosciences a “Moderate Buy”: 19 analysts recommend buying, four rate it a hold, and one gives a strong buy rating. The average 12-month price target is $201.50.
• NBIX opened at $156.49, with a market capitalization of $15.91 billion, a 52-week range of $122.14 to $186.12, and a beta of 0.39.
• Insiders sold 391,612 shares worth approximately $61.9 million over the last quarter, while institutional investors and hedge funds own 92.59% of the company.

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-four analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $201.50.

NBIX has been the topic of several research reports. Wells Fargo & Company upped their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Wall Street Zen lowered Neurocrine Biosciences from a "buy" rating to a "hold" rating in a research report on Sunday. Wedbush boosted their target price on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, Guggenheim upped their target price on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a "buy" rating in a report on Friday, July 31st.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $156.49 on Thursday. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 0.57 and a beta of 0.39. Neurocrine Biosciences has a 1-year low of $122.14 and a 1-year high of $186.12. The company has a 50 day moving average price of $168.54 and a 200 day moving average price of $148.10.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 391,612 shares of company stock worth $61,858,105 in the last quarter. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock worth $33,000 after buying an additional 202 shares during the period. Basecamp Wealth Advisors LLC boosted its position in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock worth $31,000 after buying an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at $33,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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