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

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

Several other equities research analysts have also commented on NBIX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Citigroup lowered their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Barclays upped their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Mizuho upped their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.38.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $138.97 on Tuesday. The firm has a market capitalization of $13.83 billion, a PE ratio of 57.43 and a beta of 0.25. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The company’s fifty day moving average price is $136.48 and its 200-day moving average price is $127.62.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.84 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 200 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Kevin Charles Gorman sold 2,707 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $140.69, for a total transaction of $380,847.83. Following the completion of the transaction, the chief executive officer now owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 200 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,994 shares of company stock valued at $25,806,409. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its holdings in Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after buying an additional 74 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after buying an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Neurocrine Biosciences by 34.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after buying an additional 83 shares in the last quarter. Finally, Balentine LLC lifted its holdings in Neurocrine Biosciences by 4.0% during the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after buying an additional 89 shares in the last quarter. 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.