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

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by Barclays from $160.00 to $165.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on NBIX. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. HC Wainwright reissued a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $166.29.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $136.53 on Monday. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The business has a 50 day moving average price of $124.79 and a 200 day moving average price of $130.60. The company has a market capitalization of $13.82 billion, a P/E ratio of 36.60 and a beta of 0.34.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at $338,445. This trade represents 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 owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences during the second quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences during the 2nd quarter valued at approximately $30,000. Blue Trust Inc. grew its stake in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Neurocrine Biosciences by 44.1% during the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after purchasing an additional 130 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $63,000. 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.