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

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $148.00 price target on the stock. Wedbush’s price target suggests a potential upside of 16.81% from the stock’s previous close.

NBIX has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a report on Monday. BMO Capital Markets cut their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Barclays reduced their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada decreased their price target on shares of 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Monday, November 11th. Five investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Neurocrine Biosciences Stock Down 0.1 %

NASDAQ NBIX opened at $126.70 on Monday. The business’s fifty day moving average is $121.75 and its 200 day moving average is $130.62. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 33.97 and a beta of 0.34.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the business’s 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in Neurocrine Biosciences by 34.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company’s stock valued at $875,000 after purchasing an additional 1,613 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Neurocrine Biosciences by 6.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company’s stock worth $373,000 after acquiring an additional 168 shares during the period. Pallas Capital Advisors LLC increased its position in shares of Neurocrine Biosciences by 26.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company’s stock valued at $447,000 after buying an additional 647 shares in the last quarter. Fifth Third Bancorp raised its position in Neurocrine Biosciences by 14.7% during the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after acquiring an additional 92 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Neurocrine Biosciences in the second quarter worth $435,000. 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.