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

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by analysts at UBS Group from $142.00 to $162.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 16.79% from the company’s previous close.

Other analysts have also issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Raymond James restated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Wedbush reiterated an “outperform” rating and set a $148.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, BMO Capital Markets reduced their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.81.

Neurocrine Biosciences Trading Up 0.8 %

NASDAQ NBIX opened at $138.71 on Wednesday. The stock has a 50-day moving average of $129.61 and a 200-day moving average of $130.96. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The firm has a market cap of $14.04 billion, a PE ratio of 37.19 and a beta of 0.33.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. The trade was a 9.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,694 shares of company stock valued at $479,230. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of NBIX. Total Clarity Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 4.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after purchasing an additional 100 shares during the last quarter. Commerce Bank grew its position in Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after purchasing an additional 108 shares during the period. Caprock Group LLC raised its stake in Neurocrine Biosciences by 7.0% during the 2nd quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock valued at $230,000 after buying an additional 109 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Neurocrine Biosciences by 2.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after buying an additional 113 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in shares of Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after buying an additional 130 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.