Neurocrine Biosciences Inc. (NASDAQ:NBIX)‘s stock had its “overweight” rating reiterated by research analysts at Piper Jaffray Cos. in a research note issued to investors on Tuesday. They currently have a $96.00 target price on the stock. Piper Jaffray Cos.’s target price would suggest a potential upside of 126.95% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC began coverage on shares of Neurocrine Biosciences in a research report on Tuesday. They set a “buy” rating and a $62.00 target price for the company. TheStreet lowered shares of Neurocrine Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. HC Wainwright began coverage on shares of Neurocrine Biosciences in a research report on Wednesday, June 29th. They set a “buy” rating and a $80.00 target price for the company. Cowen and Company reissued a “buy” rating and set a $65.00 target price on shares of Neurocrine Biosciences in a research report on Friday, August 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $66.00 target price on shares of Neurocrine Biosciences in a research report on Friday, September 23rd. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Neurocrine Biosciences has an average rating of “Buy” and an average target price of $65.18.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up 4.63% during midday trading on Tuesday, reaching $44.26. The company’s stock had a trading volume of 647,482 shares. Neurocrine Biosciences has a 12 month low of $31.25 and a 12 month high of $58.46. The stock’s market capitalization is $3.84 billion. The stock’s 50 day moving average is $49.92 and its 200 day moving average is $47.80.

In related news, Director Corinne H. Nevinny sold 5,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.54, for a total value of $242,700.00. Following the transaction, the director now directly owns 25,555 shares in the company, valued at $1,240,439.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $50.00, for a total transaction of $450,000.00. Following the completion of the transaction, the insider now owns 9,000 shares in the company, valued at $450,000. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NBIX. Aperio Group LLC raised its position in shares of Neurocrine Biosciences by 23.0% in the first quarter. Aperio Group LLC now owns 9,406 shares of the company’s stock valued at $372,000 after buying an additional 1,761 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Neurocrine Biosciences by 7.6% in the first quarter. TIAA CREF Investment Management LLC now owns 351,198 shares of the company’s stock valued at $13,890,000 after buying an additional 24,842 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Neurocrine Biosciences by 201.0% in the first quarter. Prudential Financial Inc. now owns 265,185 shares of the company’s stock valued at $10,488,000 after buying an additional 177,088 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Neurocrine Biosciences by 1.7% in the first quarter. BlackRock Fund Advisors now owns 3,223,549 shares of the company’s stock valued at $127,491,000 after buying an additional 53,137 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Neurocrine Biosciences during the first quarter valued at $262,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.

5 Day Chart for NASDAQ:NBIX

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