Neurocrine Biosciences’ (NBIX) Hold Rating Reaffirmed at Needham & Company LLC

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

Other research analysts have also recently issued reports about the stock. Guggenheim raised their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird raised their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Citigroup lifted their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays lowered their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $116.20 on Tuesday. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98. The firm has a market capitalization of $11.73 billion, a PE ratio of 35.11 and a beta of 0.36. The business’s fifty day moving average price is $122.22 and its 200 day moving average price is $133.84.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. Neurocrine Biosciences’s revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. Equities research analysts expect that Neurocrine Biosciences will post 4.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Julie Cooke sold 12,632 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,789,638.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary A. Lyons sold 11,570 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total value of $1,740,475.10. Following the transaction, the director now directly owns 119,047 shares of the company’s stock, valued at $17,908,240.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,968 shares of company stock valued at $8,999,632 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NBIX. RFP Financial Group LLC raised its holdings in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth $28,000. Innealta Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Neurocrine Biosciences in the 1st quarter valued at $32,000. Finally, EdgeRock Capital LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter worth about $35,000. Institutional investors and hedge funds 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.