Neurocrine Biosciences (NASDAQ:NBIX) Given Outperform Rating at Wedbush

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $148.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 16.81% from the company’s current price.

NBIX has been the subject of a number of other reports. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Barclays cut their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Neurocrine Biosciences Stock Down 0.1 %

Neurocrine Biosciences stock opened at $126.70 on Monday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The company’s fifty day simple moving average is $121.75 and its 200-day simple moving average is $130.62. The stock has a market cap of $12.83 billion, a P/E ratio of 33.97 and a beta of 0.34.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 2,331 shares of the company’s 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 transaction, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Neurocrine Biosciences by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock worth $1,574,000 after purchasing an additional 90 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Neurocrine Biosciences by 14.7% in the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after acquiring an additional 92 shares in the last quarter. Total Clarity Wealth Management Inc. lifted its position in Neurocrine Biosciences by 4.3% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after acquiring an additional 100 shares in the last quarter. Commerce Bank boosted its position in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after acquiring an additional 108 shares during the last quarter. Finally, Caprock Group LLC increased its position in shares of Neurocrine Biosciences by 7.0% in the second quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock valued at $230,000 after acquiring an additional 109 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.