Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Target Lowered at UBS Group

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by stock analysts at UBS Group from $231.00 to $214.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 55.52% from the stock’s previous close.

Several other analysts have also recently issued reports on NBIX. Royal Bank Of Canada restated an “outperform” rating and set a $198.00 target price on shares of Neurocrine Biosciences in a research report on Tuesday, September 8th. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Truist Financial upped their price objective on Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Needham & Company LLC raised their price objective on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research cut Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.73.

Neurocrine Biosciences Stock Down 2.0%

NASDAQ NBIX traded down $2.84 on Tuesday, reaching $137.60. The company had a trading volume of 855,911 shares, compared to its average volume of 1,203,494. The firm’s 50 day moving average price is $158.00 and its 200 day moving average price is $152.53. Neurocrine Biosciences has a 12 month low of $122.14 and a 12 month high of $186.12. The stock has a market capitalization of $13.99 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 0.65 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences will post 7.26 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the sale, the insider directly owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Abernethy sold 2,311 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.20, for a total transaction of $363,289.20. Following the completion of the transaction, the chief financial officer owned 42,808 shares in the company, valued at approximately $6,729,417.60. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 33,325 shares of company stock worth $5,910,496 over the last quarter. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after purchasing an additional 68 shares in the last quarter. Huntington National Bank increased its position in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares during the period. Westpac Banking Corp raised its holdings in Neurocrine Biosciences by 6.0% in the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after buying an additional 91 shares during the period. Finally, Prudential PLC lifted its position in Neurocrine Biosciences by 2.4% during the fourth quarter. Prudential PLC now owns 4,134 shares of the company’s stock valued at $586,000 after buying an additional 98 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.