Trade Report: The Piper Jaffray Cos. Analysts Give Neurocrine Biosciences Inc. (NBIX) a $96.00 Price Target

The Piper Jaffray Cos. Analysts Give Neurocrine Biosciences Inc. (NBIX) a $96.00 Price Target

Piper Jaffray Cos. set a $96.00 price target on Neurocrine Biosciences Inc. (NASDAQ:NBIX) in a research report sent to investors on Tuesday morning. The brokerage currently has a a buy rating on the stock.

A number of other equities research analysts also recently issued reports on NBIX. Cowen and Company reaffirmed a buy rating and issued a $65.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, August 5th. HC Wainwright started coverage on shares of Neurocrine Biosciences in a research report on Wednesday, June 29th. They issued a buy rating and a $80.00 price objective for the company. TheStreet downgraded shares of Neurocrine Biosciences from a hold rating to a sell rating in a research report on Thursday, July 14th. BMO Capital Markets reaffirmed an outperform rating and issued a $66.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, September 23rd. Finally, Jefferies Group reaffirmed a buy rating and issued a $61.00 price objective 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 ten have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $65.50.

Neurocrine Biosciences (NASDAQ:NBIX) opened at 44.16 on Tuesday. The stock’s 50 day moving average is $50.32 and its 200 day moving average is $47.58. The company’s market capitalization is $3.83 billion. Neurocrine Biosciences has a one year low of $31.25 and a one year high of $58.46.

In related news, insider Christopher Flint Obrien sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $48.73, for a total transaction of $609,125.00. Following the sale, the insider now directly owns 55,044 shares in the company, valued at approximately $2,682,294.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the company’s 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 sale, the insider now owns 9,000 shares in the company, valued at $450,000. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in NBIX. BlackRock Fund Advisors boosted its stake 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 worth $127,491,000 after buying an additional 53,137 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 2.8% in the second quarter. Perceptive Advisors LLC now owns 2,797,967 shares of the company’s stock worth $127,167,000 after buying an additional 77,000 shares during the last quarter. State Street Corp boosted its stake in shares of Neurocrine Biosciences by 22.9% in the first quarter. State Street Corp now owns 2,682,064 shares of the company’s stock worth $106,077,000 after buying an additional 499,687 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Neurocrine Biosciences by 32.8% in the second quarter. Franklin Resources Inc. now owns 1,541,446 shares of the company’s stock worth $70,059,000 after buying an additional 380,841 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Neurocrine Biosciences by 650.2% in the second quarter. Alliancebernstein L.P. now owns 1,104,515 shares of the company’s stock worth $50,200,000 after buying an additional 957,289 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

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