Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $164.81

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $164.81.

NBIX has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. 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. UBS Group lifted their price target on shares of Neurocrine Biosciences from $142.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Barclays increased their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Finally, William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $145.88 on Wednesday. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The business’s 50 day moving average is $132.17 and its two-hundred day moving average is $131.15. The stock has a market capitalization of $14.77 billion, a P/E ratio of 39.11 and a beta of 0.33.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,694 shares of company stock worth $9,676,730 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Linden Thomas Advisory Services LLC increased its position in Neurocrine Biosciences by 4.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,350 shares of the company’s stock valued at $867,000 after buying an additional 289 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Neurocrine Biosciences by 52.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 54,425 shares of the company’s stock valued at $7,429,000 after purchasing an additional 18,797 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Neurocrine Biosciences by 2.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,133 shares of the company’s stock worth $1,110,000 after purchasing an additional 169 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $264,000. Finally, Janney Montgomery Scott LLC increased its stake in Neurocrine Biosciences by 7.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,545 shares of the company’s stock valued at $2,395,000 after purchasing an additional 1,150 shares in the last quarter. 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.