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

Needham & Company LLC reissued their hold rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report released on Thursday, Benzinga reports.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Citigroup lifted their price objective on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Cantor Fitzgerald reissued an overweight rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $169.00 to $173.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Finally, StockNews.com lowered Neurocrine Biosciences from a strong-buy rating to a buy rating in a research report on Saturday, July 27th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $154.08.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX traded up $2.58 during mid-day trading on Thursday, hitting $155.73. 52,368 shares of the stock traded hands, compared to its average volume of 820,673. Neurocrine Biosciences has a twelve month low of $100.52 and a twelve month high of $157.98. The company has a market cap of $15.67 billion, a PE ratio of 42.19 and a beta of 0.37. The firm has a 50 day simple moving average of $139.54 and a two-hundred day simple moving average of $138.26.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.62). The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. On average, equities research analysts anticipate that Neurocrine Biosciences will post 4.22 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction 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 completion of the sale, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $140.55, for a total value of $38,370.15. Following the transaction, the insider now owns 7,507 shares in the company, valued at $1,055,108.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen A. Sherwin sold 40,000 shares of the business’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 transaction, the director now owns 26,504 shares in the company, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,709 shares of company stock valued at $11,009,150. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. purchased a new position in Neurocrine Biosciences during the 1st quarter valued at about $26,000. RFP Financial Group LLC grew its holdings in shares of Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares during the period. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $31,000. 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.