UBS Group Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

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

Several other equities analysts have also recently weighed in on NBIX. Evercore ISI lowered their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Royal Bank Of Canada restated an "outperform" rating and set a $145.00 price target on shares of Neurocrine Biosciences in a research note on Monday, June 2nd. Finally, Guggenheim boosted their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $163.91.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded down $1.11 during midday trading on Wednesday, reaching $133.81. 109,956 shares of the company's stock traded hands, compared to its average volume of 1,141,451. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 45.36, a P/E/G ratio of 1.37 and a beta of 0.24. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $157.98. The stock has a 50 day moving average of $123.15 and a 200 day moving average of $121.67.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results 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 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 in the prior year, the firm earned $1.20 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 20,362 shares of Neurocrine Biosciences 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 owned 18,289 shares of the company's stock, valued at approximately $2,379,947.57. This trade represents a 52.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,157,212.94. Following the sale, the director directly owned 514,596 shares in the company, valued at $61,947,066.48. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,975 shares of company stock valued at $7,112,920. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. increased its holdings in shares of Neurocrine Biosciences by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after purchasing an additional 297 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Neurocrine Biosciences by 64.0% in the fourth quarter. Corient Private Wealth LLC now owns 7,927 shares of the company's stock worth $1,082,000 after purchasing an additional 3,094 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Neurocrine Biosciences by 5.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company's stock worth $689,000 after purchasing an additional 245 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after purchasing an additional 214 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Neurocrine Biosciences by 8.0% during the 4th quarter. US Bancorp DE now owns 4,175 shares of the company's stock valued at $570,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

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.