Neurocrine Biosciences (NASDAQ:NBIX) Given Overweight Rating at Piper Sandler

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

NBIX has been the topic of a number of other reports. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.29.

Neurocrine Biosciences Trading Up 1.2 %

Shares of NBIX opened at $136.99 on Monday. The firm has a 50-day moving average price of $124.40 and a 200 day moving average price of $130.59. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The firm has a market capitalization of $13.87 billion, a P/E ratio of 36.73 and a beta of 0.34.

Insider Activity

In related news, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences 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 sale, the insider now directly owns 2,507 shares in the company, valued at $338,445. This trade represents a 30.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jude Onyia sold 2,331 shares of the company’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 completion of the transaction, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of NBIX. Ashton Thomas Private Wealth LLC acquired a new position in Neurocrine Biosciences in the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at $30,000. Blue Trust Inc. increased its stake in Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after acquiring an additional 130 shares during the period. Finally, Truvestments Capital LLC acquired a new position in shares of Neurocrine Biosciences during the third quarter worth about $63,000. 92.59% of the stock is currently owned by hedge funds and other 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.