Barclays Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its target price boosted by investment analysts at Barclays from $160.00 to $165.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 21.84% from the stock’s current price.

A number of other analysts have also issued reports on the stock. BMO Capital Markets lowered their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $166.24.

Neurocrine Biosciences Trading Up 0.3 %

NBIX stock opened at $135.42 on Monday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The company has a 50-day moving average price of $123.99 and a 200 day moving average price of $130.57. The stock has a market cap of $13.71 billion, a PE ratio of 36.31 and a beta of 0.34.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd raised its position in Neurocrine Biosciences by 2,481.9% in the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank increased its stake in 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 during the period. Tri Ri Asset Management Corp acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $3,236,000. KBC Group NV boosted its position in Neurocrine Biosciences by 78.3% in the 3rd 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 during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Neurocrine Biosciences by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock worth $2,238,000 after acquiring an additional 7,597 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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.