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

Neurocrine Biosciences (NASDAQ:NBIX) had its price target increased by analysts at UBS Group from $162.00 to $176.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 14.82% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $166.10.

Neurocrine Biosciences Stock Up 1.7 %

NBIX traded up $2.61 on Thursday, reaching $153.29. 867,460 shares of the company traded hands, compared to its average volume of 969,666. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The company has a market cap of $15.52 billion, a P/E ratio of 41.10 and a beta of 0.33. The firm has a fifty day simple moving average of $135.88 and a two-hundred day simple moving average of $131.44.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 1,091 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 214,799 shares of company stock worth $31,513,583 in the last 90 days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently modified their holdings of NBIX. Sheaff Brock Investment Advisors LLC lifted its stake in Neurocrine Biosciences by 11.7% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 2,499 shares of the company’s stock worth $341,000 after purchasing an additional 261 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Neurocrine Biosciences by 24.3% in the 4th quarter. Principal Securities Inc. now owns 1,382 shares of the company’s stock valued at $189,000 after buying an additional 270 shares in the last quarter. Autumn Glory Partners LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter worth $273,000. Asset Management One Co. Ltd. lifted its position in Neurocrine Biosciences by 1.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 70,431 shares of the company’s stock valued at $9,821,000 after acquiring an additional 1,201 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its stake in Neurocrine Biosciences by 12.3% in the fourth quarter. Stanley Laman Group Ltd. now owns 42,158 shares of the company’s stock valued at $5,755,000 after acquiring an additional 4,627 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other 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.