Neurocrine Biosciences (NASDAQ:NBIX) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $160.00 price target on the stock.

NBIX has been the subject of a number of other reports. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday. BMO Capital Markets cut their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Finally, Raymond James reiterated an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five equities 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. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $166.29.

Neurocrine Biosciences Stock Up 1.2 %

Shares of NASDAQ NBIX opened at $136.99 on Monday. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 36.73 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 firm has a 50-day moving average price of $124.40 and a 200 day moving average price of $130.59.

Insider Buying and Selling

In related news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Neurocrine Biosciences by 14.7% during the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after purchasing an additional 92 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after acquiring an additional 13,069 shares during the last quarter. Burney Co. boosted its stake in Neurocrine Biosciences by 4.1% in the second quarter. Burney Co. now owns 82,578 shares of the company’s stock valued at $11,369,000 after acquiring an additional 3,236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Neurocrine Biosciences by 41.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,018 shares of the company’s stock valued at $12,393,000 after purchasing an additional 26,195 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $30,000. 92.59% of the stock is currently owned by institutional investors.

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.