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

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by Morgan Stanley from $170.00 to $185.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the company. BMO Capital Markets decreased their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. UBS Group boosted their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Barclays boosted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $166.85.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $152.42 on Tuesday. The stock has a 50 day moving average price of $137.92 and a two-hundred day moving average price of $131.51. The firm has a market capitalization of $15.43 billion, a P/E ratio of 40.86 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now owns 32,681 shares of the company’s stock, valued at approximately $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $513,856.18. The trade was a 15.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,693 shares of company stock valued at $32,718,279. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in Neurocrine Biosciences by 7.9% in the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after acquiring an additional 519 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Neurocrine Biosciences in the second quarter valued at $510,000. Handelsbanken Fonder AB increased its stake in Neurocrine Biosciences by 20.7% in the third quarter. Handelsbanken Fonder AB now owns 26,867 shares of the company’s stock valued at $3,096,000 after acquiring an additional 4,600 shares during the last quarter. GAMMA Investing LLC increased its stake in Neurocrine Biosciences by 11.9% in the third quarter. GAMMA Investing LLC now owns 1,738 shares of the company’s stock valued at $200,000 after acquiring an additional 185 shares during the last quarter. Finally, CWM LLC increased its stake in Neurocrine Biosciences by 15.1% in the third quarter. CWM LLC now owns 7,884 shares of the company’s stock valued at $908,000 after acquiring an additional 1,035 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

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.