Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $200.00 at Wells Fargo & Company

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective upped by analysts at Wells Fargo & Company from $175.00 to $200.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.34% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler boosted their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Finally, HC Wainwright increased their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.86.

Neurocrine Biosciences Price Performance

NBIX traded up $0.36 during trading on Friday, reaching $171.91. 64,252 shares of the stock were exchanged, compared to its average volume of 1,170,616. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 0.65 and a beta of 0.39. Neurocrine Biosciences has a 1 year low of $122.14 and a 1 year high of $181.18. The business’s 50 day moving average price is $163.37 and its two-hundred day moving average price is $143.60.

Insider Buying and Selling

In other news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the transaction, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the transaction, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. The trade was a 62.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 394,172 shares of company stock worth $62,221,181 in the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of NBIX. NewEdge Advisors LLC raised its holdings in Neurocrine Biosciences by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after acquiring an additional 68 shares during the last quarter. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Finally, Main Management ETF Advisors LLC grew its position in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.