Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $193.00 at UBS Group

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by UBS Group from $174.00 to $193.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently commented on NBIX. Barclays upped their price target on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. BMO Capital Markets upped their price target on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a market perform rating in a research report on Thursday, May 2nd. HC Wainwright upped their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Oppenheimer increased their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. Finally, Wedbush restated an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of Moderate Buy and an average price target of $150.85.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $135.41 on Tuesday. The company has a market capitalization of $13.63 billion, a PE ratio of 37.30 and a beta of 0.28. The business has a fifty day moving average price of $138.27 and a two-hundred day moving average price of $132.74. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business had revenue of $515.30 million during the quarter, compared to the consensus estimate of $512.21 million. Sell-side analysts anticipate that Neurocrine Biosciences will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the sale, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matt Abernethy sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total value of $2,103,600.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,421,486.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,497 shares of company stock worth $29,263,354. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in Neurocrine Biosciences by 10.5% during the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after buying an additional 74 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Neurocrine Biosciences by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after buying an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after buying an additional 78 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Neurocrine Biosciences by 34.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after purchasing an additional 84 shares in 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.