Neurocrine Biosciences (NASDAQ:NBIX) Price Target Cut to $137.00 by Analysts at UBS Group

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) had its target price dropped by research analysts at UBS Group from $154.00 to $137.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 49.13% from the stock's current price.

Several other analysts also recently issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. StockNews.com cut 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 dropped their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, HC Wainwright restated a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Five investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $163.52.

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Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded up $4.33 during trading on Friday, hitting $91.87. The company's stock had a trading volume of 975,003 shares, compared to its average volume of 1,013,152. The company has a 50-day moving average of $116.39 and a 200-day moving average of $123.71. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences has a 12 month low of $84.12 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares of the company's stock, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares of the company's stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,906 shares of company stock valued at $33,869,030. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock worth $1,381,331,000 after purchasing an additional 122,681 shares in the last quarter. State Street Corp grew its holdings in shares of Neurocrine Biosciences by 11.7% during the third 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 last quarter. Dodge & Cox increased its position in shares of Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the period. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 2.9% in the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock worth $258,926,000 after acquiring an additional 53,610 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock worth $255,523,000 after acquiring an additional 15,830 shares during the period. 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.