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

Wedbush reissued their outperform rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $148.00 price target on the stock.

NBIX has been the topic of several other reports. BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada lowered their target price 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. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. 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. Finally, Raymond James reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.00.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $135.45 on Monday. The stock has a market cap of $13.71 billion, a P/E ratio of 36.31 and a beta of 0.34. The firm has a 50 day simple moving average of $123.14 and a 200 day simple moving average of $130.61. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences 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 transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently modified their holdings of NBIX. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Neurocrine Biosciences by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock valued at $1,574,000 after purchasing an additional 90 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Neurocrine Biosciences by 14.7% during the 2nd 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. Total Clarity Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 4.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after buying an additional 100 shares during the last quarter. Commerce Bank lifted its stake in shares of Neurocrine Biosciences by 2.6% in the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after buying an additional 108 shares during the period. Finally, Caprock Group LLC grew its position in Neurocrine Biosciences by 7.0% during the second quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock worth $230,000 after buying an additional 109 shares in the last quarter. 92.59% of the stock is owned by 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.