William Blair Reaffirms Outperform Rating for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research report issued to clients and investors on Monday,RTT News reports.

Other equities analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Wedbush restated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research note on Monday. Jefferies Financial Group boosted their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Finally, Royal Bank of Canada reduced 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 analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $6.28 during mid-day trading on Monday, reaching $132.98. The company had a trading volume of 178,594 shares, compared to its average volume of 863,770. The stock has a fifty day moving average of $121.75 and a two-hundred day moving average of $130.62. 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 $13.46 billion, a price-to-earnings ratio of 34.58 and a beta of 0.34.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after purchasing an additional 39,610 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 purchasing an additional 13,069 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.