Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $152.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by UBS Group from $137.00 to $152.00 in a report issued on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

NBIX has been the topic of several other research reports. Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Royal Bank of Canada upgraded shares of Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and cut their price objective for the company from $138.00 to $137.00 in a report on Monday, April 14th. Evercore ISI lowered their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Bank of America cut their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Neurocrine Biosciences Stock Down 3.4 %

Shares of NASDAQ NBIX opened at $117.52 on Tuesday. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The company’s 50-day simple moving average is $106.18 and its 200-day simple moving average is $121.81. Neurocrine Biosciences has a 52-week low of $84.23 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now directly owns 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Cooke sold 700 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the transaction, the insider now directly owns 18,831 shares of the company’s stock, valued at approximately $2,227,330.68. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,907 shares of company stock worth $4,935,982. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter worth about $25,000. Huntington National Bank increased its stake in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the period. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Neurocrine Biosciences in the first quarter worth approximately $34,000. Finally, GeoWealth Management LLC grew its holdings in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares in the last quarter. Hedge funds and other 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.