Needham & Company LLC Reaffirms “Hold” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

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

Other analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. Wedbush reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a research note on Monday. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Finally, Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Neurocrine Biosciences Stock Performance

NBIX traded up $1.34 during trading on Friday, reaching $136.30. 334,623 shares of the company traded hands, compared to its average volume of 876,101. The company has a market cap of $13.80 billion, a P/E ratio of 36.54 and a beta of 0.34. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The firm has a fifty day simple moving average of $123.59 and a 200 day simple moving average of $130.64.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new stake in Neurocrine Biosciences in the second quarter valued at $30,000. Blue Trust Inc. grew its position in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the period. Plato Investment Management Ltd raised its stake in shares of Neurocrine Biosciences by 44.1% during 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 during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at about $63,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.