Neurocrine Biosciences (NASDAQ:NBIX) Receives Hold Rating from Needham & Company LLC

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

A number of other analysts have also recently weighed in on NBIX. BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Evercore ISI assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 target price on the stock. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.08.

Neurocrine Biosciences Stock Up 0.3 %

NBIX stock opened at $141.57 on Thursday. Neurocrine Biosciences has a fifty-two week low of $99.98 and a fifty-two week high of $150.39. The firm’s 50-day simple moving average is $139.29 and its 200 day simple moving average is $138.16. The stock has a market cap of $14.25 billion, a PE ratio of 39.00 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.30 million during the quarter, compared to analyst estimates of $512.21 million. Equities analysts forecast that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares in the company, valued at $3,537,223.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the sale, the insider now directly owns 7,507 shares in the company, valued at $1,055,108.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the sale, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The disclosure for this sale can be found here. Insiders sold a total of 80,709 shares of company stock worth $11,009,150 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Neurocrine Biosciences by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after purchasing an additional 23,831 shares during the period. Bank of New York Mellon Corp raised its position in shares of Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after purchasing an additional 13,069 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Neurocrine Biosciences by 66.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after purchasing an additional 364,986 shares during the period. Finally, Vestal Point Capital LP bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $105,408,000. 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.