Neurocrine Biosciences (NASDAQ:NBIX) Receives “Buy” Rating from HC Wainwright

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

Other analysts also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. BMO Capital Markets dropped their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Finally, Citigroup lifted their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $120.53 on Friday. The company has a 50 day simple moving average of $119.13 and a 200-day simple moving average of $133.41. The company has a market capitalization of $12.20 billion, a P/E ratio of 32.31 and a beta of 0.35. Neurocrine Biosciences has a 1 year low of $103.63 and a 1 year high of $157.98.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 7,143 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total transaction of $1,072,164.30. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $376,300.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,063 shares of company stock valued at $7,023,330 over the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares during the period. Twin Tree Management LP grew its holdings in Neurocrine Biosciences by 59.4% during the 1st quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock worth $2,641,000 after acquiring an additional 7,136 shares in the last quarter. Redwood Investment Management LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth $642,000. Forsta AP Fonden grew its holdings in Neurocrine Biosciences by 94.3% during the 1st quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock worth $4,717,000 after acquiring an additional 16,600 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in Neurocrine Biosciences by 96.7% during the 1st quarter. Inspire Investing LLC now owns 12,296 shares of the company’s stock worth $1,696,000 after acquiring an additional 6,045 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.