UBS Group Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by research analysts at UBS Group from $137.00 to $152.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 21.97% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright decreased their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Guggenheim upped their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC raised their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $161.90.

Neurocrine Biosciences Stock Up 13.5 %

Shares of Neurocrine Biosciences stock traded up $14.87 during trading on Tuesday, hitting $124.62. 1,331,963 shares of the company were exchanged, compared to its average volume of 1,425,389. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The firm has a 50 day moving average price of $106.03 and a 200 day moving average price of $121.83. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. Analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Kyle Gano sold 980 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $118.39, for a total transaction of $116,022.20. Following the completion of the sale, the chief executive officer now owns 137,658 shares of the company’s stock, valued at approximately $16,297,330.62. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 2,274 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $118.37, for a total transaction of $269,173.38. Following the completion of the sale, the director now directly owns 519,074 shares in the company, valued at $61,442,789.38. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,907 shares of company stock worth $1,629,982 in the last quarter. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors have recently made changes to their positions in NBIX. Vanguard Group Inc. lifted its position in shares of Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after buying an additional 122,681 shares during the last quarter. Dodge & Cox boosted its stake in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the period. AQR Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 2.9% during the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock valued at $258,926,000 after purchasing an additional 53,610 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after purchasing an additional 15,830 shares during the period. Finally, Wellington Management Group LLP boosted its position in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock valued at $198,939,000 after purchasing an additional 739,199 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.