UBS Group Cuts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $178.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lowered by UBS Group from $188.00 to $178.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC upped their price target on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Mizuho boosted their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Truist Financial dropped their price target on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. TD Cowen lifted their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Stifel Nicolaus increased their price objective on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.25.

Neurocrine Biosciences Stock Down 0.9%

NASDAQ:NBIX opened at $136.18 on Friday. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The stock has a market cap of $13.58 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.28. The firm’s fifty day simple moving average is $143.61 and its 200-day simple moving average is $140.24.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter last year, the business earned $1.81 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director George J. Morrow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the transaction, the director owned 7,068 shares of the company’s stock, valued at $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 80,266 shares of company stock valued at $11,400,517. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIX. USA Financial Formulas acquired a new stake in Neurocrine Biosciences in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $27,000. Finally, Quent Capital LLC acquired a new position in Neurocrine Biosciences during the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.