UBS Group Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $174.00

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price objective raised by UBS Group from $152.00 to $174.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on NBIX. BMO Capital Markets upped their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Piper Sandler reissued an "overweight" rating and set a $154.00 price objective (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. HC Wainwright cut their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Evercore ISI cut their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.05.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $4.77 on Wednesday, reaching $133.51. 1,261,236 shares of the company's stock traded hands, compared to its average volume of 1,144,525. The business's 50 day moving average price is $122.63 and its two-hundred day moving average price is $121.58. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $157.98. The company has a market capitalization of $13.21 billion, a P/E ratio of 45.26, a price-to-earnings-growth ratio of 1.32 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. Research analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 20,362 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $130.13, for a total transaction of $2,649,707.06. Following the sale, the insider directly owned 18,289 shares in the company, valued at $2,379,947.57. This represents a 52.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the stock in a transaction 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 transaction, the director owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,975 shares of company stock worth $7,112,920 in the last three months. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after purchasing an additional 87 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the period. Utah Retirement Systems lifted its stake in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after purchasing an additional 100 shares during the period. Finally, DE Burlo Group Inc. lifted its stake in shares of Neurocrine Biosciences by 2.2% in the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after purchasing an additional 100 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.