Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $163.91

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $163.91.

NBIX has been the topic of several analyst reports. Jefferies Financial Group boosted their target price on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Oppenheimer boosted their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a report on Friday, November 1st. Royal Bank of Canada cut their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Raymond James reissued an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $126.59 on Tuesday. Neurocrine Biosciences has a 1-year low of $110.81 and a 1-year high of $157.98. The business’s 50 day moving average is $119.09 and its two-hundred day moving average is $131.67. The stock has a market capitalization of $12.82 billion, a P/E ratio of 33.94 and a beta of 0.35.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently bought and sold shares of the business. Plato Investment Management Ltd increased its holdings in shares of Neurocrine Biosciences by 2,481.9% in the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after acquiring an additional 10,548 shares during the period. Swiss National Bank lifted its position in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after buying an additional 4,100 shares during the last quarter. Redwood Investment Management LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $642,000. KBC Group NV boosted its stake in 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 acquiring an additional 8,332 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Neurocrine Biosciences by 57.8% in the first quarter. Tidal Investments LLC now owns 9,542 shares of the company’s stock worth $1,316,000 after purchasing an additional 3,497 shares during the last quarter. Institutional investors 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.