Neurocrine Biosciences (NASDAQ:NBIX) Given “Outperform” Rating at Wedbush

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued to investors on Monday,Benzinga reports. They presently have a $148.00 price objective on the stock. Wedbush’s price target points to a potential upside of 8.27% from the stock’s previous close.

A number of other research firms have also weighed in on NBIX. 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 report on Thursday, October 17th. HC Wainwright reissued a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, Royal Bank of Canada reduced their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

Neurocrine Biosciences Trading Up 2.7 %

NASDAQ:NBIX opened at $136.69 on Monday. The business’s 50-day moving average is $122.16 and its 200 day moving average is $130.57. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The company has a market capitalization of $13.84 billion, a P/E ratio of 35.67 and a beta of 0.34.

Insider Activity

In other 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 transaction of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently added to or reduced their stakes in NBIX. Wealth Enhancement Advisory Services LLC increased its position in Neurocrine Biosciences by 34.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company’s stock valued at $875,000 after purchasing an additional 1,613 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Neurocrine Biosciences by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company’s stock valued at $373,000 after buying an additional 168 shares during the period. Pallas Capital Advisors LLC raised its stake in Neurocrine Biosciences by 26.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company’s stock worth $447,000 after buying an additional 647 shares in the last quarter. Fifth Third Bancorp lifted its holdings 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 buying an additional 92 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Neurocrine Biosciences during the second quarter worth $435,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.