Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $169.20

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned an average rating of “Moderate Buy” from the twenty-three research firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $166.90.

Several equities research analysts have commented on NBIX shares. BMO Capital Markets cut their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada dropped their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Canaccord Genuity Group lowered their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday. They issued a “hold” rating and a $138.00 price objective for the company. Finally, Guggenheim dropped their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday.

Neurocrine Biosciences Stock Down 1.6 %

Shares of NBIX opened at $116.85 on Friday. The stock’s 50-day moving average price is $138.66 and its 200-day moving average price is $131.23. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 35.52 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. As a group, equities analysts anticipate that Neurocrine Biosciences will post 6.53 EPS for the current fiscal year.

Insider Activity

In other news, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,693 shares of company stock valued at $32,718,279. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Cetera Investment Advisers raised its stake in Neurocrine Biosciences by 7.9% during the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after acquiring an additional 519 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth about $510,000. GAMMA Investing LLC lifted its holdings in shares of Neurocrine Biosciences by 11.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,738 shares of the company’s stock valued at $200,000 after purchasing an additional 185 shares during the last quarter. CWM LLC boosted its position in shares of Neurocrine Biosciences by 15.1% in the 3rd quarter. CWM LLC now owns 7,884 shares of the company’s stock valued at $908,000 after purchasing an additional 1,035 shares during the period. Finally, Perpetual Ltd grew its stake in Neurocrine Biosciences by 96.6% during the 3rd quarter. Perpetual Ltd now owns 12,560 shares of the company’s stock worth $1,447,000 after buying an additional 6,170 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.