Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $200.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target upped by Wells Fargo & Company from $175.00 to $200.00 in a research note issued to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

NBIX has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Truist Financial raised their target price on Neurocrine Biosciences from $155.00 to $200.00 and gave the company a “buy” rating in a report on Monday, July 13th. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price on the stock. Finally, Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.86.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $170.88 on Friday. The stock has a market capitalization of $17.18 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.68 and a beta of 0.39. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $181.18. The firm has a 50-day moving average price of $163.74 and a 200 day moving average price of $143.79.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the sale, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 394,172 shares of company stock valued at $62,221,181 over the last three months. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. NewEdge Advisors LLC boosted its position in Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after purchasing an additional 68 shares during the period. Huntington National Bank increased its position in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the period. Perigon Wealth Management LLC increased its position in Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after buying an additional 78 shares during the period. Motley Fool Asset Management LLC lifted its stake in Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares during the last quarter. Finally, Main Management ETF Advisors LLC lifted its stake in Neurocrine Biosciences by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after buying an additional 80 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.