The Goldman Sachs Group Reaffirms “Buy” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reissued by analysts at The Goldman Sachs Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $213.00 target price on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 32.30% from the stock’s current price.

A number of other analysts also recently issued reports on NBIX. Piper Sandler lifted their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Finally, HC Wainwright lifted their target price on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

Neurocrine Biosciences Trading Up 1.7%

Shares of NASDAQ NBIX opened at $161.00 on Tuesday. The stock has a market cap of $16.19 billion, a P/E ratio of 24.81, a PEG ratio of 1.19 and a beta of 0.39. Neurocrine Biosciences has a 12-month low of $121.83 and a 12-month high of $162.39. The business’s fifty day simple moving average is $139.98 and its 200-day simple moving average is $139.18.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 3,810 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the sale, the director owned 2,429 shares of the company’s stock, valued at approximately $376,519.29. The trade was a 61.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $155.53, for a total value of $1,710,830.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at $4,019,828.38. This represents a 29.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 278,786 shares of company stock valued at $43,099,615. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC boosted its holdings in Neurocrine Biosciences by 0.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 56,934 shares of the company’s stock valued at $7,500,000 after purchasing an additional 464 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $3,037,000. Bank of America Corp DE boosted its stake in shares of Neurocrine Biosciences by 10.6% during the 1st quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock worth $76,913,000 after acquiring an additional 55,723 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of Neurocrine Biosciences by 134.1% during the 1st quarter. Edgestream Partners L.P. now owns 50,587 shares of the company’s stock worth $6,664,000 after acquiring an additional 28,979 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Neurocrine Biosciences by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 466,977 shares of the company’s stock worth $61,515,000 after acquiring an additional 7,801 shares in the last quarter. Hedge funds and other 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.