Neurocrine Biosciences’ (NBIX) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Wednesday morning, Benzinga reports.

A number of other brokerages also recently commented on NBIX. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and raised their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Barclays raised their price target on 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 objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Citigroup reduced their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. Finally, HC Wainwright restated a buy rating and set a $150.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $143.03 on Wednesday. The business has a 50 day simple moving average of $137.11 and a 200-day simple moving average of $128.51. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37. The stock has a market capitalization of $14.23 billion, a PE ratio of 59.10 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 4.8 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, 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 transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Morrow sold 40,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.42, for a total transaction of $5,576,800.00. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock valued at $25,039,887 over the last three months. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in Neurocrine Biosciences in the 1st quarter worth about $26,000. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $28,000. Lindbrook Capital LLC boosted its position in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $31,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Neurocrine Biosciences during the fourth quarter worth approximately $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.