Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $163.91.

A number of research firms have recently commented on NBIX. Royal Bank of Canada dropped their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Finally, Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of 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 in the 2nd quarter valued at approximately $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences in the second quarter worth $30,000. New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences in the first quarter valued at $32,000. EdgeRock Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth $35,000. Finally, Blue Trust Inc. grew its stake in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $126.75 on Tuesday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The firm has a market capitalization of $12.83 billion, a PE ratio of 33.98 and a beta of 0.35. The business’s fifty day moving average price is $119.26 and its 200 day moving average price is $131.56.

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.