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

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

A number of other equities analysts also recently issued reports on NBIX. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. The Goldman Sachs Group raised their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays raised their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their target price on Neurocrine Biosciences from $127.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.67.

Neurocrine Biosciences Stock Up 1.3 %

Neurocrine Biosciences stock opened at $133.66 on Tuesday. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 55.23 and a beta of 0.25. The business’s 50-day moving average price is $136.21 and its 200 day moving average price is $127.35. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. Equities analysts expect that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,994 shares of company stock worth $25,806,409. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $26,000. Lindbrook Capital LLC raised its stake 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 buying an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $33,000. Finally, Headinvest LLC purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $28,000. 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.