Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $163.91 Consensus PT from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-four brokerages that are covering the firm, MarketBeat.com reports. Five 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 price objective among brokerages that have issued a report on the stock in the last year is $163.91.

Several equities analysts have weighed in on NBIX shares. HC Wainwright reaffirmed a "buy" rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a report on Friday, November 1st. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. BMO Capital Markets reduced their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Thursday, October 17th. Finally, Citigroup increased their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $0.58 during mid-day trading on Tuesday, hitting $127.69. The company had a trading volume of 433,754 shares, compared to its average volume of 875,426. The business's fifty day moving average is $118.72 and its two-hundred day moving average is $131.80. Neurocrine Biosciences has a fifty-two week low of $110.52 and a fifty-two week high of $157.98. The firm has a market cap of $12.93 billion, a P/E ratio of 34.08 and a beta of 0.35.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Ashton Thomas Private Wealth LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at about $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth $32,000. EdgeRock Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the second quarter worth $35,000. Finally, Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company's stock valued at $40,000 after buying an additional 220 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.