Truist Financial Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $213.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by equities research analysts at Truist Financial from $200.00 to $213.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 25.49% from the stock’s previous close.

Several other research analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Wedbush upped their target price on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday. Stifel Nicolaus raised their price target on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target for the company. Finally, Weiss Ratings raised shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $201.05.

Neurocrine Biosciences Trading Up 1.8%

NASDAQ:NBIX traded up $2.94 on Monday, reaching $169.74. The stock had a trading volume of 140,853 shares, compared to its average volume of 1,198,107. The company has a 50-day moving average of $167.81 and a 200 day moving average of $146.50. The stock has a market cap of $17.07 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 0.70 and a beta of 0.39. Neurocrine Biosciences has a 12-month low of $122.14 and a 12-month high of $186.12.

Insider Buying and Selling

In related news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the sale, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. This represents a 30.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. This represents a 29.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 395,422 shares of company stock worth $62,448,693. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently modified their holdings of the business. Ruffer LLP bought a new position in Neurocrine Biosciences during the 4th quarter worth $2,479,000. Robinhood Asset Management LLC bought a new stake in Neurocrine Biosciences in the fourth quarter valued at $5,715,000. Wesbanco Bank Inc. boosted its holdings in shares of Neurocrine Biosciences by 88.9% during the fourth quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock valued at $2,411,000 after acquiring an additional 8,000 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $1,866,000. Finally, Swedbank AB grew its position in shares of Neurocrine Biosciences by 6.7% during the fourth quarter. Swedbank AB now owns 584,129 shares of the company’s stock worth $82,847,000 after acquiring an additional 36,800 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.