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

HC Wainwright reissued their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note released on Monday morning,Benzinga reports. The firm currently has a $190.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on the company. Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Monday, November 11th. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. StockNews.com downgraded shares of 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 target price on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $133.05 on Monday. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The business has a 50 day moving average price of $121.75 and a 200 day moving average price of $130.59. The company has a market capitalization of $13.47 billion, a P/E ratio of 35.79 and a beta of 0.34.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd raised its holdings in shares of Neurocrine Biosciences by 2,481.9% during the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after buying an additional 10,548 shares during the period. Swiss National Bank boosted its holdings in Neurocrine Biosciences by 1.4% in the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after acquiring an additional 4,100 shares during the period. Tri Ri Asset Management Corp acquired a new stake in Neurocrine Biosciences in the third quarter valued at approximately $3,236,000. KBC Group NV raised its stake in shares of Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after purchasing an additional 8,332 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Neurocrine Biosciences by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock valued at $2,238,000 after purchasing an additional 7,597 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.