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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price decreased by UBS Group from $154.00 to $137.00 in a research note issued to investors on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

NBIX has been the subject of a number of other research reports. Wedbush dropped their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. 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. Finally, Canaccord Genuity Group decreased their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $163.52.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $95.65 on Friday. The firm’s 50-day moving average is $120.01 and its two-hundred day moving average is $124.37. The company has a market capitalization of $9.54 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences has a 12-month low of $93.59 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) 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%. On average, analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, the insider now owns 3,442 shares in the company, valued at $513,856.18. This represents a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,906 shares of company stock valued at $33,869,030 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. Versant Capital Management Inc lifted its holdings in Neurocrine Biosciences by 404.9% in the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after buying an additional 328 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Neurocrine Biosciences by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 136,549 shares of the company’s stock worth $18,639,000 after acquiring an additional 2,389 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Neurocrine Biosciences by 199.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,886 shares of the company’s stock worth $2,305,000 after acquiring an additional 11,240 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Neurocrine Biosciences by 29.0% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 6,643 shares of the company’s stock valued at $907,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $4,429,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.