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

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

Several equities research analysts recently commented on the stock. Raymond James reiterated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a research report on Friday, November 1st. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Monday, November 11th.

Neurocrine Biosciences Stock Performance

NBIX opened at $126.75 on Tuesday. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 33.98 and a beta of 0.35. The business’s fifty day moving average is $119.26 and its two-hundred day moving average is $131.56.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after buying an additional 504,400 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after acquiring an additional 363,863 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares in the last quarter. Hedge funds and other 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.