Neurocrine Biosciences (NASDAQ:NBIX) Given New $174.00 Price Target at UBS Group

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price target hoisted by UBS Group from $152.00 to $174.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

NBIX has been the subject of several other reports. Piper Sandler reiterated an "overweight" rating and issued a $154.00 price target (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. HC Wainwright reduced their price objective 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. BMO Capital Markets raised their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average target price of $163.91.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded down $1.46 during midday trading on Wednesday, reaching $133.46. 724,778 shares of the stock traded hands, compared to its average volume of 1,145,196. The company has a fifty day moving average of $124.19 and a 200 day moving average of $121.63. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $157.98. The stock has a market capitalization of $13.21 billion, a P/E ratio of 45.24, a PEG ratio of 1.38 and a beta of 0.24.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the transaction, the director owned 514,596 shares of the company's stock, valued at $61,947,066.48. The trade was a 1.83% 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, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,251 shares of company stock worth $14,978,602. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. lifted its holdings in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Huntington National Bank lifted its holdings in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. WPG Advisers LLC purchased a new position in Neurocrine Biosciences during the first quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC purchased a new position in Neurocrine Biosciences during the first quarter valued at approximately $34,000. Finally, GeoWealth Management LLC raised its position in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

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.