UBS Group Has Lowered Expectations for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lowered by equities research analysts at UBS Group from $188.00 to $178.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 30.71% from the company’s previous close.

Other research analysts have also issued reports about the company. Citigroup boosted their price target on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. TD Cowen raised their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 5th. Finally, Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $174.25.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $136.18 on Friday. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $160.18. The firm has a market cap of $13.58 billion, a P/E ratio of 32.58, a P/E/G ratio of 0.71 and a beta of 0.28. The firm has a 50-day simple moving average of $143.61 and a 200-day simple moving average of $140.20.

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

Insider Activity at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction 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 directly owned 7,068 shares in the company, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,266 shares of company stock worth $11,400,517 in the last 90 days. 4.80% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Neurocrine Biosciences by 59.6% in the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after purchasing an additional 1,590,749 shares during the period. AQR Capital Management LLC increased its holdings in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares during the period. Norges Bank purchased a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $122,278,000. Los Angeles Capital Management LLC lifted its stake in Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after acquiring an additional 740,842 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Neurocrine Biosciences during the 3rd quarter valued at approximately $48,791,000. Institutional investors and hedge funds 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.