Neurocrine Biosciences (NASDAQ:NBIX) Stock Rating Lowered by Wall Street Zen

Neurocrine Biosciences (NASDAQ:NBIX) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

NBIX has been the subject of several other research reports. Royal Bank Of Canada upped their price target on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. HC Wainwright boosted their price objective on shares of Neurocrine Biosciences from $168.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Needham & Company LLC increased their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Truist Financial reduced their price target on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $174.25.

Neurocrine Biosciences Trading Down 1.4%

Shares of Neurocrine Biosciences stock opened at $136.06 on Friday. The stock’s fifty day moving average price is $143.13 and its 200-day moving average price is $140.31. The firm has a market cap of $13.57 billion, a P/E ratio of 32.55, a P/E/G ratio of 0.72 and a beta of 0.31. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,266 shares of company stock worth $11,400,517 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NBIX. Royal Bank of Canada lifted its stake in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after acquiring an additional 5,577 shares during the last quarter. NewEdge Advisors LLC raised its stake in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after acquiring an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. grew its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds 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.