UBS Group Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $162.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by equities researchers at UBS Group from $142.00 to $162.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 17.26% from the company’s current price.

A number of other equities research analysts also recently issued reports on NBIX. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th. Barclays raised their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, BMO Capital Markets reduced 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 research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $164.81.

Neurocrine Biosciences Trading Up 0.4 %

NASDAQ:NBIX traded up $0.61 on Wednesday, hitting $138.16. 77,556 shares of the company’s stock traded hands, compared to its average volume of 741,531. The firm has a 50-day moving average price of $128.52 and a 200-day moving average price of $130.83. The company has a market cap of $13.99 billion, a PE ratio of 37.04 and a beta of 0.33. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction 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 transaction, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the sale, the insider now directly 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. Over the last ninety days, insiders sold 3,694 shares of company stock worth $479,230. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBIX. Commonwealth Equity Services LLC raised its stake in shares of Neurocrine Biosciences by 7.0% during the second quarter. Commonwealth Equity Services LLC now owns 14,916 shares of the company’s stock worth $2,054,000 after buying an additional 975 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Neurocrine Biosciences by 1.2% in the 2nd quarter. Victory Capital Management Inc. now owns 137,543 shares of the company’s stock valued at $18,936,000 after purchasing an additional 1,676 shares during the period. Acadian Asset Management LLC grew its stake in shares of Neurocrine Biosciences by 20.1% during the second quarter. Acadian Asset Management LLC now owns 4,164 shares of the company’s stock worth $571,000 after purchasing an additional 698 shares during the period. Caprock Group LLC increased its holdings in Neurocrine Biosciences by 7.0% in the second quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock valued at $230,000 after purchasing an additional 109 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Neurocrine Biosciences in the second quarter valued at about $28,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.