Neurocrine Biosciences’ (NBIX) “Overweight” Rating Reaffirmed at Piper Jaffray Cos.
Neurocrine Biosciences Inc. (NASDAQ:NBIX)‘s stock had its “overweight” rating restated by equities researchers at Piper Jaffray Cos. in a report released on Thursday.
NBIX has been the subject of several other research reports. HC Wainwright restated a “buy” rating on shares of Neurocrine Biosciences in a research report on Friday, August 5th. Cowen and Company restated a “buy” rating and set a $65.00 target price on shares of Neurocrine Biosciences in a research report on Friday, August 5th. Jefferies Group restated a “buy” rating and set a $61.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, May 25th. Leerink Swann restated an “outperform” rating and set a $63.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, June 1st. Finally, TheStreet downgraded Neurocrine Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $63.90.
Neurocrine Biosciences (NASDAQ:NBIX) opened at 54.22 on Thursday. The company has a 50 day moving average price of $50.13 and a 200-day moving average price of $46.09. The firm’s market cap is $4.70 billion. Neurocrine Biosciences has a 52-week low of $31.25 and a 52-week high of $58.46.
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In related news, insider Christopher Flint Obrien sold 12,500 shares of Neurocrine Biosciences stock in a transaction on Monday, August 15th. The stock was sold at an average price of $48.73, for a total transaction of $609,125.00. Following the completion of the sale, the insider now directly owns 55,044 shares of the company’s stock, valued at $2,682,294.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $50.00, for a total value of $450,000.00. Following the sale, the insider now directly owns 9,000 shares of the company’s stock, valued at $450,000. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.
Several large investors have recently made changes to their positions in NBIX. Royal Bank of Canada boosted its stake in shares of Neurocrine Biosciences by 3.1% in the second quarter. Royal Bank of Canada now owns 477,152 shares of the company’s stock worth $21,686,000 after buying an additional 14,449 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $2,522,000. Amalgamated Bank boosted its stake in shares of Neurocrine Biosciences by 52.6% in the second quarter. Amalgamated Bank now owns 13,729 shares of the company’s stock worth $662,000 after buying an additional 4,735 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $399,000. Finally, Lombard Odier Asset Management USA Corp boosted its stake in shares of Neurocrine Biosciences by 23.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 30,755 shares of the company’s stock worth $1,398,000 after buying an additional 5,914 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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