Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Expected to Rise, UBS Group Analyst Says

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by UBS Group from $162.00 to $176.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

NBIX has been the subject of a number of other reports. Wedbush restated an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Royal Bank of Canada decreased their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, BMO Capital Markets dropped their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $166.10.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $153.29 on Thursday. The stock has a market capitalization of $15.52 billion, a PE ratio of 41.10 and a beta of 0.33. The business has a 50 day simple moving average of $135.88 and a 200-day simple moving average of $131.44. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,799 shares of company stock valued at $31,513,583 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $25,000. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. lifted its stake in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $61,000. Finally, UMB Bank n.a. raised its holdings in shares of Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.