Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $162.00 at UBS Group

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by investment analysts at UBS Group from $142.00 to $162.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 17.26% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets cut their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Raymond James reaffirmed an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.81.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $0.61 during trading hours on Wednesday, reaching $138.16. 77,556 shares of the company’s stock were exchanged, compared to its average volume of 741,531. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The company’s 50-day moving average is $128.52 and its two-hundred day moving average is $130.83. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 37.04 and a beta of 0.33.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the sale, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,694 shares of company stock worth $479,230 in the last quarter. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 4.3% in 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 in 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 in the last quarter. Caprock Group LLC boosted its stake in shares of Neurocrine Biosciences by 7.0% in the 2nd quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock worth $230,000 after buying an additional 109 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Neurocrine Biosciences by 2.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after acquiring an additional 113 shares in the last quarter. Finally, Plato Investment Management Ltd grew its stake in Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after purchasing an additional 130 shares during the period. 92.59% of the stock is owned by 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.