Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $134.69

Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Free Report) has been given an average rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $134.69.

A number of analysts recently weighed in on the company. Raymond James boosted their target price on Neurocrine Biosciences from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. BMO Capital Markets reduced their price target on Neurocrine Biosciences from $111.00 to $100.00 and set a “market perform” rating on the stock in a research note on Friday, November 10th. Royal Bank of Canada cut their target price on Neurocrine Biosciences from $128.00 to $121.00 and set a “sector perform” rating on the stock in a research note on Friday, November 10th. Piper Sandler upped their price target on Neurocrine Biosciences from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, January 19th.

Check Out Our Latest Stock Report on Neurocrine Biosciences

Neurocrine Biosciences Stock Down 0.5 %

NBIX stock opened at $141.74 on Wednesday. The firm has a market capitalization of $13.93 billion, a PE ratio of 76.20, a PEG ratio of 0.75 and a beta of 0.25. The stock has a 50-day simple moving average of $129.01 and a two-hundred day simple moving average of $116.18. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $143.35.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Eiry Roberts sold 1,457 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the completion of the sale, the insider now directly owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kevin Charles Gorman sold 105,835 shares of Neurocrine Biosciences stock in a transaction on Monday, January 8th. The stock was sold at an average price of $132.44, for a total value of $14,016,787.40. Following the transaction, the chief executive officer now directly owns 499,754 shares in the company, valued at approximately $66,187,419.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eiry Roberts sold 1,457 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the transaction, the insider now owns 20,832 shares in the company, valued at $2,932,937.28. The disclosure for this sale can be found here. Insiders sold 270,631 shares of company stock worth $35,043,864 in the last quarter. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Neurocrine Biosciences by 6.6% in the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock valued at $1,363,094,000 after buying an additional 838,997 shares during the period. State Street Corp grew its position in shares of Neurocrine Biosciences by 4.1% in the second quarter. State Street Corp now owns 3,956,499 shares of the company’s stock valued at $373,098,000 after purchasing an additional 156,584 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Neurocrine Biosciences by 6.1% in the second quarter. Geode Capital Management LLC now owns 1,523,408 shares of the company’s stock valued at $143,431,000 after purchasing an additional 87,671 shares in the last quarter. DSM Capital Partners LLC grew its position in shares of Neurocrine Biosciences by 15.4% in the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after purchasing an additional 163,747 shares in the last quarter. Finally, Woodline Partners LP grew its position in Neurocrine Biosciences by 189.0% in the second quarter. Woodline Partners LP now owns 1,152,189 shares of the company’s stock worth $108,651,000 after acquiring an additional 753,495 shares during the period. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

(Get Free Report

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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