Neurocrine Biosciences’ (NBIX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $190.00 price target on the stock.

Several other research firms also recently weighed in on NBIX. BMO Capital Markets dropped 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 report on Thursday, October 17th. Barclays cut their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.00.

Neurocrine Biosciences Stock Performance

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred 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 owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NBIX. Wealth Enhancement Advisory Services LLC increased its holdings in Neurocrine Biosciences by 34.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company’s stock worth $875,000 after acquiring an additional 1,613 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of 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 purchasing an additional 168 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Neurocrine Biosciences by 26.4% during the 2nd quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company’s stock worth $447,000 after purchasing an additional 647 shares during the last quarter. Fifth Third Bancorp lifted its stake in Neurocrine Biosciences by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock valued at $99,000 after buying an additional 92 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter worth about $435,000. 92.59% of the stock is 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.