UBS Group Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $195.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by equities research analysts at UBS Group from $188.00 to $195.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 42.72% from the company’s previous close.

A number of other analysts have also issued reports on NBIX. Piper Sandler raised their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Royal Bank Of Canada increased their target price on Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They set a “buy” rating and a $182.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.44.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $136.63 on Thursday. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $154.61. The company has a market capitalization of $13.55 billion, a P/E ratio of 40.42, a P/E/G ratio of 1.00 and a beta of 0.21. The business has a 50 day moving average price of $137.56 and a 200 day moving average price of $125.06.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to analysts’ expectations of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. As a group, research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director directly owned 514,596 shares of the company’s stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $1,460,000. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at about $696,000. Golden State Wealth Management LLC boosted its position in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after buying an additional 214 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Neurocrine Biosciences by 167.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company’s stock valued at $800,000 after buying an additional 4,526 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Neurocrine Biosciences by 31.7% in the 1st quarter. Fifth Third Bancorp now owns 1,056 shares of the company’s stock valued at $117,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.