William Blair Reiterates “Outperform” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

William Blair reaffirmed their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Monday morning,RTT News reports.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Jefferies Financial Group boosted their target price on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research note on Monday. Finally, Piper Sandler upgraded 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 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Neurocrine Biosciences Stock Down 0.9 %

Shares of NBIX opened at $135.45 on Monday. The company has a market capitalization of $13.71 billion, a PE ratio of 36.31 and a beta of 0.34. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The company has a 50-day simple moving average of $123.14 and a 200-day simple moving average of $130.61.

Insider Activity

In related news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the sale, the insider now directly owns 15,449 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth $28,000. Innealta Capital LLC purchased a new stake in Neurocrine Biosciences during the second quarter valued at about $30,000. EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences during the second quarter worth about $35,000. Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the period. Finally, Plato Investment Management Ltd raised its holdings in shares of Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.