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

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

Other analysts also recently issued research reports about the company. Zacks Research raised Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. BMO Capital Markets dropped their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Finally, Truist Financial boosted their price objective on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.05.

Neurocrine Biosciences Stock Up 1.0%

NBIX stock traded up $1.52 during trading on Friday, reaching $157.91. 246,859 shares of the company’s stock were exchanged, compared to its average volume of 1,161,496. Neurocrine Biosciences has a 1-year low of $121.42 and a 1-year high of $162.39. The company’s fifty day moving average price is $138.81 and its 200-day moving average price is $139.02. The firm has a market cap of $15.88 billion, a PE ratio of 24.31, a P/E/G ratio of 1.17 and a beta of 0.34.

Insider Buying and Selling

In other news, Director Leslie V. Norwalk sold 3,810 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total transaction of $590,588.10. Following the sale, the director directly owned 2,429 shares of the company’s stock, valued at $376,519.29. The trade was a 61.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director directly owned 34,480 shares in the company, valued at $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 267,786 shares of company stock valued at $41,388,785 over the last ninety days. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. Golden State Wealth Management LLC raised its position in Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $28,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences during the first quarter valued at $33,000. 92.59% of the stock is owned by institutional investors and hedge funds.

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.