Neurocrine Biosciences’ (NBIX) “Hold” Rating Reiterated at Needham & Company LLC

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

NBIX has been the subject of a number of other reports. BMO Capital Markets cut their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Barclays reduced their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $166.00.

Neurocrine Biosciences Stock Up 1.0 %

Shares of NBIX stock traded up $1.34 during mid-day trading on Friday, hitting $136.30. 334,623 shares of the stock were exchanged, compared to its average volume of 876,101. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a fifty day moving average of $123.59 and a 200 day moving average of $130.64. The company has a market cap of $13.80 billion, a PE ratio of 36.54 and a beta of 0.34.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now directly owns 2,507 shares in the company, valued at $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at about $30,000. Blue Trust Inc. raised its holdings in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after buying an additional 130 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth $63,000. 92.59% of the stock is owned by institutional investors and hedge funds.

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.