Neurocrine Biosciences’ (NBIX) “Overweight” Rating Reiterated at Piper Sandler

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a report released on Monday,Benzinga reports. They presently have a $160.00 price target on the stock. Piper Sandler’s price objective indicates a potential upside of 18.61% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets reduced their target price 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. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday. HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $166.29.

Neurocrine Biosciences Trading Down 0.4 %

NBIX traded down $0.52 during trading on Monday, hitting $134.90. The company’s stock had a trading volume of 336,088 shares, compared to its average volume of 881,873. The business’s fifty day simple moving average is $123.99 and its 200 day simple moving average is $130.57. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 36.17 and a beta of 0.34.

Insider Transactions at Neurocrine Biosciences

In other 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 completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $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 insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd lifted its position in Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank boosted its stake in Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after buying an additional 4,100 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $3,236,000. KBC Group NV lifted its stake in shares of Neurocrine Biosciences by 78.3% during the 3rd quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after acquiring an additional 8,332 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Neurocrine Biosciences by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock worth $2,238,000 after purchasing an additional 7,597 shares during the period. Hedge funds and other 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.