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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price boosted by UBS Group from $142.00 to $162.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

NBIX has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Raymond James restated an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Wedbush restated an “outperform” rating and issued a $148.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, BMO Capital Markets dropped their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $164.81.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences 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 firm has a fifty day moving average of $129.98 and a two-hundred day moving average of $131.01. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 37.77 and a beta of 0.33.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the company’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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,694 shares of company stock valued at $479,230 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares during the period. 1832 Asset Management L.P. increased its stake in Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after buying an additional 504,400 shares during the period. Los Angeles Capital Management LLC lifted its position in Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after buying an additional 363,863 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after buying an additional 228,444 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after acquiring an additional 216,500 shares in the last quarter. Hedge funds and other institutional investors 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.