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

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by UBS Group from $162.00 to $176.00 in a research note published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Wedbush restated an “outperform” rating and issued a $148.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets reduced their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. Finally, Barclays upped their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.10.

Neurocrine Biosciences Stock Up 1.7 %

NBIX opened at $153.29 on Thursday. The firm has a 50-day simple moving average of $135.88 and a two-hundred day simple moving average of $131.44. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The company has a market capitalization of $15.52 billion, a PE ratio of 41.10 and a beta of 0.33.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 214,799 shares of company stock worth $31,513,583. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIX. The Manufacturers Life Insurance Company boosted its holdings in Neurocrine Biosciences by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock valued at $17,264,000 after purchasing an additional 1,074 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Neurocrine Biosciences in the second quarter worth about $509,000. Cetera Investment Advisers grew its holdings in Neurocrine Biosciences by 7.9% during the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after acquiring an additional 519 shares during the period. Sanctuary Advisors LLC purchased a new position in Neurocrine Biosciences during the second quarter valued at approximately $510,000. Finally, Handelsbanken Fonder AB lifted its holdings in Neurocrine Biosciences by 20.7% in the third quarter. Handelsbanken Fonder AB now owns 26,867 shares of the company’s stock valued at $3,096,000 after acquiring an additional 4,600 shares during the period. 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.