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

Neurocrine Biosciences (NASDAQ:NBIX) had its price target upped by Guggenheim from $175.00 to $200.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets increased their price objective on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Leerink Partners upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Citigroup lifted their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. 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. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $194.05.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $179.05 on Tuesday. Neurocrine Biosciences has a fifty-two week low of $122.14 and a fifty-two week high of $181.18. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39. The business’s 50 day moving average price is $164.65 and its two-hundred day moving average price is $144.28.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 11,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. This represents a 29.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. 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 394,172 shares of company stock worth $62,221,181 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. DJE Kapital AG bought a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its stake in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.