Neurocrine Biosciences (NASDAQ:NBIX) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Monday morning,Benzinga reports. Wedbush currently has a $148.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday. Jefferies Financial Group increased their price target 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. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Finally, Royal Bank of Canada decreased their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $165.00.

Neurocrine Biosciences Stock Up 5.0 %

Shares of NASDAQ:NBIX opened at $133.05 on Monday. The company’s fifty day moving average is $121.75 and its two-hundred day moving average is $130.59. The company has a market cap of $13.47 billion, a P/E ratio of 35.79 and a beta of 0.34. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

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