Piper Sandler Reaffirms Overweight Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Piper Sandler reiterated their overweight rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has a $160.00 price objective on the stock.

NBIX has been the topic of several other reports. 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. Barclays increased their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets lowered their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Raymond James reiterated an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.29.

Neurocrine Biosciences Stock Down 0.3 %

Neurocrine Biosciences stock opened at $136.53 on Monday. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a market cap of $13.82 billion, a PE ratio of 36.60 and a beta of 0.34. The company’s 50 day moving average is $124.79 and its two-hundred day moving average is $130.60.

Insider Activity

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction dated 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 sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $338,445. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently modified their holdings of NBIX. Fifth Third Bancorp grew its position in Neurocrine Biosciences by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock valued at $99,000 after buying an additional 92 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Neurocrine Biosciences by 1.4% in the second 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. increased its stake in shares of Neurocrine Biosciences by 4.1% during the second quarter. Burney Co. now owns 82,578 shares of the company’s stock worth $11,369,000 after acquiring an additional 3,236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Neurocrine Biosciences by 41.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,018 shares of the company’s stock worth $12,393,000 after purchasing an additional 26,195 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Neurocrine Biosciences in the second quarter valued at about $30,000. 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.