Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $169.20 Average PT from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given an average rating of “Moderate Buy” by the twenty-three research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $166.90.

Several research firms recently issued reports on NBIX. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Royal Bank of Canada reduced their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Barclays lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kyle Gano sold 980 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $118.39, for a total transaction of $116,022.20. Following the completion of the sale, the chief executive officer now owns 137,658 shares of the company’s stock, valued at approximately $16,297,330.62. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,647 shares of company stock worth $33,186,271. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences in the fourth quarter worth about $25,000. Huntington National Bank raised its position in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Brooklyn Investment Group raised its position in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. raised its position in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 0.3 %

Neurocrine Biosciences stock opened at $116.87 on Friday. The company’s fifty day simple moving average is $138.28 and its 200-day simple moving average is $130.92. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The stock has a market cap of $11.65 billion, a P/E ratio of 35.52 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. On average, equities research analysts expect that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Neurocrine Biosciences Company Profile

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.