Needham & Company LLC Reiterates Hold Rating for Neurocrine Biosciences (NASDAQ:NBIX)

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

Several other equities research analysts have also commented on NBIX. HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Finally, Jefferies Financial Group raised their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Trading Up 1.6 %

NASDAQ:NBIX opened at $122.21 on Tuesday. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98. The company has a 50-day moving average price of $119.77 and a 200-day moving average price of $133.49. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 32.76 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.23). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. The firm had revenue of $622.10 million for the quarter, compared to the consensus estimate of $604.11 million. Equities analysts forecast that Neurocrine Biosciences will post 4.37 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the transaction, the insider now directly owns 6,607 shares in the company, valued at approximately $975,853.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now directly owns 6,607 shares in the company, valued at $975,853.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary A. Lyons sold 11,570 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the transaction, the director now directly owns 119,047 shares of the company’s stock, valued at $17,908,240.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,336 shares of company stock worth $7,063,652. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in Neurocrine Biosciences by 48.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,744 shares of the company’s stock valued at $654,000 after purchasing an additional 1,550 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Neurocrine Biosciences by 14.3% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,805 shares of the company’s stock worth $939,000 after buying an additional 853 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Neurocrine Biosciences by 23.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 506,666 shares of the company’s stock worth $69,879,000 after buying an additional 96,563 shares during the last quarter. State of Michigan Retirement System boosted its stake in Neurocrine Biosciences by 3.8% during the first quarter. State of Michigan Retirement System now owns 24,481 shares of the company’s stock worth $3,376,000 after buying an additional 900 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after acquiring an additional 8,630 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.