Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives Average Rating of “Moderate Buy” from Analysts

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been assigned an average rating of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $163.91.

Several research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday, September 16th.

Neurocrine Biosciences Trading Down 0.7 %

Shares of NBIX stock opened at $125.89 on Tuesday. The company has a market cap of $12.75 billion, a P/E ratio of 33.75 and a beta of 0.34. The firm has a fifty day moving average price of $119.42 and a 200 day moving average price of $131.37. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98.

Institutional Trading of Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in NBIX. Plato Investment Management Ltd raised its holdings in Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,548 shares in the last quarter. Swiss National Bank raised its stake in shares of Neurocrine Biosciences by 1.4% during the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after buying an additional 4,100 shares in the last quarter. Redwood Investment Management LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $642,000. KBC Group NV boosted its stake in shares of Neurocrine Biosciences by 78.3% in the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after buying an additional 8,332 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Neurocrine Biosciences by 57.8% during the first quarter. Tidal Investments LLC now owns 9,542 shares of the company’s stock worth $1,316,000 after acquiring an additional 3,497 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.