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

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a research note issued to investors on Monday,Benzinga reports. They presently have a $160.00 price objective on the stock. Piper Sandler’s price objective suggests a potential upside of 17.19% from the company’s previous close.

A number of other analysts have also issued reports on NBIX. Barclays increased their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Wedbush reiterated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. HC Wainwright reissued a “buy” rating and issued a $190.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $166.29.

Neurocrine Biosciences Price Performance

NBIX stock opened at $136.53 on Monday. The company’s 50 day simple moving average is $124.40 and its 200-day simple moving average is $130.59. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a market capitalization of $13.82 billion, a P/E ratio of 36.60 and a beta of 0.34.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction on Friday, November 29th. The shares were 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. The trade was a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now directly 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. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its position in Neurocrine Biosciences by 14.7% in 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 period. Bank of New York Mellon Corp boosted its position in shares of Neurocrine Biosciences by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after acquiring an additional 13,069 shares in the last quarter. Burney Co. boosted its position in shares of Neurocrine Biosciences by 4.1% during the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Neurocrine Biosciences by 41.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,018 shares of the company’s stock valued at $12,393,000 after acquiring an additional 26,195 shares during the period. Finally, Innealta Capital LLC acquired a new position in Neurocrine Biosciences in the second quarter worth about $30,000. Institutional investors own 92.59% of the company’s stock.

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.