Neurocrine Biosciences’ (NBIX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report issued on Friday morning, Benzinga reports. HC Wainwright currently has a $190.00 target price on the stock.

Several other equities analysts also recently commented on NBIX. Guggenheim boosted their price objective on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Barclays lowered their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $120.53 on Friday. The company has a market capitalization of $12.20 billion, a PE ratio of 32.31 and a beta of 0.35. The business’s fifty day moving average is $119.13 and its 200 day moving average is $133.41. Neurocrine Biosciences has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the transaction, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,063 shares of company stock valued at $7,023,330. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the company. 1832 Asset Management L.P. grew its position in Neurocrine Biosciences by 1,370.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after purchasing an additional 504,400 shares during the period. Los Angeles Capital Management LLC grew its position in Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares during the period. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after purchasing an additional 228,444 shares during the period. Vanguard Group Inc. grew its position in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares during the period. Finally, Iron Triangle Partners LP acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $30,342,000. 92.59% of the stock is owned by institutional investors and hedge funds.

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.