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

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

NBIX has been the topic of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. HC Wainwright restated a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Wedbush reissued an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.81.

Neurocrine Biosciences Trading Up 0.8 %

NASDAQ:NBIX opened at $138.71 on Wednesday. Neurocrine Biosciences has a 12 month low of $110.95 and a 12 month high of $157.98. The company has a 50 day simple moving average of $129.24 and a two-hundred day simple moving average of $130.91. The company has a market cap of $14.04 billion, a PE ratio of 37.19 and a beta of 0.33.

Insider Activity

In related news, insider Ingrid Delaet sold 272 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This represents a 9.79 % 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 Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction on 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 directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,694 shares of company stock valued at $479,230. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. First Hawaiian Bank grew its stake in shares of Neurocrine Biosciences by 21.3% in the 4th quarter. First Hawaiian Bank now owns 12,243 shares of the company’s stock valued at $1,671,000 after buying an additional 2,150 shares during the period. Everence Capital Management Inc. purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at about $476,000. GAMMA Investing LLC raised its holdings in Neurocrine Biosciences by 32.0% in the 4th quarter. GAMMA Investing LLC now owns 2,295 shares of the company’s stock valued at $313,000 after buying an additional 557 shares during the period. Tri Ri Asset Management Corp purchased a new position in Neurocrine Biosciences during the third quarter worth about $3,236,000. Finally, Tidal Investments LLC raised its stake in shares of Neurocrine Biosciences by 52.8% in the 3rd quarter. Tidal Investments LLC now owns 15,043 shares of the company’s stock valued at $1,733,000 after acquiring an additional 5,197 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.