Neurocrine Biosciences (NASDAQ:NBIX) Earns “Overweight” Rating from Piper Sandler

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $160.00 price objective on the stock. Piper Sandler’s price target would indicate a potential upside of 17.19% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Raymond James reiterated an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. BMO Capital Markets reduced their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. Finally, HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.29.

Neurocrine Biosciences Stock Down 0.3 %

Shares of NASDAQ NBIX opened at $136.53 on Monday. The firm has a 50-day moving average price of $124.40 and a 200 day moving average price of $130.59. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 36.60 and a beta of 0.34.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after purchasing an additional 504,400 shares during the period. Los Angeles Capital Management LLC boosted its stake in Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after purchasing 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 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after buying an additional 216,500 shares in the last quarter. 92.59% of the stock is owned by 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.