Neurocrine Biosciences (NASDAQ:NBIX) Given “Overweight” Rating at Piper Sandler

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a research note issued to investors on Monday,Benzinga reports. They presently have a $160.00 price objective on the stock. Piper Sandler’s price objective suggests a potential upside of 18.61% from the company’s previous close.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Monday, September 16th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James reiterated an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wedbush restated an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $166.29.

Neurocrine Biosciences Price Performance

NBIX traded down $0.52 during trading hours on Monday, reaching $134.90. 336,088 shares of the stock traded hands, compared to its average volume of 881,873. The firm’s fifty day simple moving average is $123.99 and its two-hundred day simple moving average is $130.57. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 36.17 and a beta of 0.34. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Tri Ri Asset Management Corp purchased a new stake in shares of Neurocrine Biosciences in the third quarter worth $3,236,000. Tidal Investments LLC boosted its holdings in shares of Neurocrine Biosciences by 52.8% in the 3rd quarter. Tidal Investments LLC now owns 15,043 shares of the company’s stock worth $1,733,000 after purchasing an additional 5,197 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Neurocrine Biosciences in the third quarter valued at $384,000. Sanctuary Advisors LLC lifted its stake in Neurocrine Biosciences by 103.9% in the third quarter. Sanctuary Advisors LLC now owns 7,649 shares of the company’s stock worth $961,000 after purchasing an additional 3,898 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Neurocrine Biosciences during the third quarter valued at approximately $1,985,000. 92.59% of the stock is 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.