UBS Group Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $152.00

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price target upped by UBS Group from $137.00 to $152.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on NBIX. HC Wainwright dropped their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wedbush reduced their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Evercore ISI lowered their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. StockNews.com cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Needham & Company LLC lifted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $1.81 during trading hours on Tuesday, hitting $115.71. 1,319,681 shares of the stock were exchanged, compared to its average volume of 1,115,471. The stock's 50-day moving average price is $106.23 and its two-hundred day moving average price is $121.85. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. During the same quarter in the previous year, the business posted $1.20 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Kyle Gano sold 980 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.39, for a total transaction of $116,022.20. Following the transaction, the chief executive officer now owns 137,658 shares in the company, valued at $16,297,330.62. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This represents a 44.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,907 shares of company stock worth $4,935,982 over the last 90 days. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences in the fourth quarter valued at $25,000. Huntington National Bank increased its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. Brooklyn Investment Group raised its position in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after acquiring an additional 115 shares in the last quarter. GeoWealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the period. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $34,000. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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.