Neurocrine Biosciences (NASDAQ:NBIX) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI began coverage on shares of Neurocrine Biosciences (NASDAQ:NBIXFree Report) in a report published on Tuesday, Benzinga reports. The brokerage issued an outperform rating and a $175.00 target price on the stock.

A number of other brokerages have also issued reports on NBIX. StockNews.com lowered shares of Neurocrine Biosciences from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and boosted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Wedbush reissued an outperform rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of Moderate Buy and an average price target of $148.96.

Read Our Latest Stock Report on NBIX

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $142.29 on Tuesday. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 39.20 and a beta of 0.28. The company has a 50 day simple moving average of $138.56 and a 200-day simple moving average of $130.91. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37.

Insider Buying and Selling

In other news, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total value of $2,103,600.00. Following the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,421,486.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total value of $2,103,600.00. Following the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,421,486.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leslie V. Norwalk sold 8,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $135.67, for a total transaction of $1,085,360.00. The disclosure for this sale can be found here. Insiders sold 194,664 shares of company stock valued at $26,877,417 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. RFP Financial Group LLC grew its holdings in Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Mather Group LLC. acquired a new position in Neurocrine Biosciences during the 1st quarter valued at about $26,000. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $31,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $32,000. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.

Further Reading

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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