Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by research analysts at Royal Bank Of Canada from $180.00 to $183.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 15.89% from the company’s previous close.

A number of other brokerages have also issued reports on NBIX. Piper Sandler raised their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Zacks Research raised Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Leerink Partners lifted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $186.05.

Neurocrine Biosciences Stock Up 1.0%

Shares of NBIX traded up $1.52 during trading hours on Friday, reaching $157.91. 246,859 shares of the company traded hands, compared to its average volume of 1,161,496. The stock has a market capitalization of $15.88 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences has a fifty-two week low of $121.42 and a fifty-two week high of $162.39. The stock has a fifty day simple moving average of $138.81 and a 200 day simple moving average of $139.02.

Insider Transactions at Neurocrine Biosciences

In related news, insider David W. Boyer sold 3,888 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $156.64, for a total transaction of $609,016.32. Following the completion of the transaction, the insider owned 7,799 shares in the company, valued at $1,221,635.36. The trade was a 33.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 3,810 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total value of $590,588.10. Following the transaction, the director owned 2,429 shares of the company’s stock, valued at $376,519.29. This represents a 61.07% 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. Insiders have sold a total of 267,786 shares of company stock worth $41,388,785 in the last quarter. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new position in Neurocrine Biosciences during the 4th quarter worth $25,000. Golden State Wealth Management LLC boosted its position in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the 4th quarter worth $28,000. Geneos Wealth Management Inc. boosted its position in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds 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.