HC Wainwright Reaffirms “Buy” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $190.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 39.00% from the stock’s current price.

Several other analysts have also recently weighed in on NBIX. BMO Capital Markets dropped their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Barclays cut their price objective 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. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. Finally, Raymond James reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $136.69 on Monday. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 35.67 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 business’s fifty day moving average price is $122.16 and its two-hundred day moving average price is $130.57.

Insider Activity

In related 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 completion of the transaction, the insider now directly owns 15,449 shares of the company’s stock, 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 is accessible through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NBIX. Plato Investment Management Ltd boosted 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 worth $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank boosted its holdings in shares of Neurocrine Biosciences by 1.4% during the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after buying an additional 4,100 shares during the period. Tri Ri Asset Management Corp acquired a new position in Neurocrine Biosciences in the 3rd quarter valued at about $3,236,000. KBC Group NV grew its stake in Neurocrine Biosciences by 78.3% in the 3rd quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after buying an additional 8,332 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Neurocrine Biosciences by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock valued at $2,238,000 after acquiring an additional 7,597 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.