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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by Morgan Stanley from $170.00 to $185.00 in a research note published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Raymond James reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. UBS Group raised their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, Barclays increased their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.85.

Neurocrine Biosciences Trading Up 1.5 %

Shares of NASDAQ:NBIX opened at $152.42 on Tuesday. The stock’s 50-day moving average price is $137.92 and its 200-day moving average price is $131.51. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The stock has a market capitalization of $15.43 billion, a P/E ratio of 40.86 and a beta of 0.33.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,693 shares of company stock worth $32,718,279 over the last three months. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after purchasing an additional 100 shares during the last quarter. Commerce Bank lifted its holdings in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Neurocrine Biosciences by 2.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after purchasing an additional 113 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Tealwood Asset Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,626,000 after purchasing an additional 118 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.