Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $162.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective hoisted by UBS Group from $142.00 to $162.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on NBIX. HC Wainwright reiterated a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Barclays boosted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.81.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $140.90 on Wednesday. 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 $14.27 billion, a price-to-earnings ratio of 37.77 and a beta of 0.33. The company has a 50-day simple moving average of $129.98 and a 200 day simple moving average of $131.01.

Insider Buying and Selling

In related news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents 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 272 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,694 shares of company stock valued at $479,230. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Total Clarity Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 4.3% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock valued at $335,000 after acquiring an additional 100 shares during the last quarter. Commerce Bank lifted its position in shares of Neurocrine Biosciences by 2.6% in the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after buying an additional 108 shares during the last quarter. Caprock Group LLC grew its holdings in Neurocrine Biosciences by 7.0% during the second quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock valued at $230,000 after purchasing an additional 109 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Neurocrine Biosciences by 2.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock worth $496,000 after acquiring an additional 113 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after buying an additional 130 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

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.