Neurocrine Biosciences (NASDAQ:NBIX) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report released on Monday morning,Benzinga reports. Wedbush currently has a $148.00 target price on the stock.

A number of other brokerages have also commented on NBIX. Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a report on Monday. Barclays dropped their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their target price for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Finally, BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Neurocrine Biosciences Trading Up 5.0 %

Shares of NBIX stock opened at $133.05 on Monday. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The firm’s 50 day moving average is $121.75 and its 200-day moving average is $130.59. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 35.79 and a beta of 0.34.

Insider Buying and Selling

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction dated 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 $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of NBIX. Wealth Enhancement Advisory Services LLC increased its position in shares of Neurocrine Biosciences by 34.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company’s stock worth $875,000 after purchasing an additional 1,613 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Neurocrine Biosciences by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company’s stock worth $373,000 after buying an additional 168 shares during the last quarter. Pallas Capital Advisors LLC raised its position in Neurocrine Biosciences by 26.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company’s stock worth $447,000 after acquiring an additional 647 shares in the last quarter. Fifth Third Bancorp lifted its stake in Neurocrine Biosciences by 14.7% in the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock valued at $99,000 after acquiring an additional 92 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at about $435,000. 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.