Neurocrine Biosciences (NASDAQ:NBIX) Earns “Hold” Rating from Needham & Company LLC

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

Other equities research analysts have also recently issued reports about the company. Morgan Stanley increased their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. HC Wainwright increased their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. UBS Group increased their target price on Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $169.00 to $173.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. 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 stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $154.08.

Neurocrine Biosciences Trading Up 0.5 %

NBIX opened at $146.80 on Thursday. The stock has a 50-day moving average price of $139.16 and a 200-day moving average price of $137.90. Neurocrine Biosciences has a 12-month low of $99.36 and a 12-month high of $150.39. The stock has a market capitalization of $14.77 billion, a P/E ratio of 40.44 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) 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 analysts’ expectations of $512.21 million. On average, equities research analysts predict that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the sale, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen A. Sherwin sold 40,000 shares of the business’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 value of $5,338,400.00. Following the sale, the director now directly owns 26,504 shares in the company, valued at $3,537,223.84. The disclosure for this sale can be found here. Insiders have sold a total of 80,709 shares of company stock valued at $11,009,150 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NBIX. Mather Group LLC. purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $26,000. RFP Financial Group LLC boosted its position in shares of Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares during the period. Lindbrook Capital LLC boosted its position in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $31,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $32,000. 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.