UBS Group Forecasts Strong Price Appreciation for Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by equities research analysts at UBS Group from $162.00 to $176.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 14.82% from the stock’s previous close.

Several other analysts have also weighed in on the company. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. BMO Capital Markets cut their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.10.

Neurocrine Biosciences Stock Up 1.7 %

Shares of NASDAQ NBIX traded up $2.61 during midday trading on Thursday, hitting $153.29. The company had a trading volume of 867,460 shares, compared to its average volume of 969,666. The business has a 50-day simple moving average of $135.88 and a two-hundred day simple moving average of $131.44. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 41.10 and a beta of 0.33.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jude Onyia sold 2,331 shares of the business’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 completion of the sale, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 214,799 shares of company stock valued at $31,513,583 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Plato Investment Management Ltd lifted its holdings in shares of Neurocrine Biosciences by 2,481.9% during the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock worth $1,263,000 after acquiring an additional 10,548 shares during the period. Swiss National Bank grew its stake in shares of Neurocrine Biosciences by 1.4% in the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $3,236,000. KBC Group NV boosted its stake in Neurocrine Biosciences by 78.3% in the 3rd quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after buying an additional 8,332 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Neurocrine Biosciences by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock valued at $2,238,000 after buying an additional 7,597 shares in the last quarter. 92.59% of the stock is 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.