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

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

Several other research analysts have also recently issued reports on NBIX. Royal Bank of Canada cut 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Wedbush reissued an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Finally, William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.81.

Neurocrine Biosciences Price Performance

NBIX opened at $138.71 on Wednesday. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The firm has a market capitalization of $14.04 billion, a PE ratio of 37.19 and a beta of 0.33. The company’s 50-day moving average is $129.61 and its 200 day moving average is $130.96.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the 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 sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,694 shares of company stock valued at $479,230 over the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently modified their holdings of NBIX. Total Clarity Wealth Management Inc. increased its stake in 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 acquiring an additional 100 shares during the last quarter. Commerce Bank increased its position in shares of Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares during the last quarter. Caprock Group LLC raised its holdings in shares of 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 in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Neurocrine Biosciences by 2.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock worth $496,000 after buying an additional 113 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Neurocrine Biosciences by 44.1% in the second quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after buying an additional 130 shares in 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.