Neurocrine Biosciences (NASDAQ:NBIX) Earns “Hold” Rating from Needham & Company LLC

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

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald reissued an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. The Goldman Sachs Group lifted their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a report on Thursday, January 25th. HC Wainwright reissued a buy rating and issued a $150.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 24th. Mizuho raised their price objective on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Finally, Barclays lifted their target price on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $143.03 on Wednesday. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 59.10 and a beta of 0.28. The company has a 50 day simple moving average of $137.11 and a 200-day simple moving average of $128.51. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. On average, analysts predict that Neurocrine Biosciences will post 4.8 EPS for the current year.

Insiders Place Their Bets

In other news, insider David W. Boyer sold 456 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the sale, the insider now directly owns 4,894 shares of the company’s stock, valued at $694,752.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David W. Boyer sold 456 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the transaction, the insider now owns 4,894 shares in the company, valued at $694,752.24. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock valued at $25,039,887 in the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently modified their holdings of the company. Capstone Investment Advisors LLC raised its stake in shares of Neurocrine Biosciences by 136.1% in the first quarter. Capstone Investment Advisors LLC now owns 5,652 shares of the company’s stock valued at $780,000 after purchasing an additional 3,258 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Neurocrine Biosciences by 3.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,907 shares of the company’s stock valued at $1,228,000 after buying an additional 270 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Neurocrine Biosciences by 40.4% in the 1st quarter. BNP Paribas Financial Markets now owns 431,982 shares of the company’s stock valued at $59,579,000 after buying an additional 124,352 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Neurocrine Biosciences by 1.5% in the 1st quarter. Retirement Systems of Alabama now owns 124,955 shares of the company’s stock valued at $17,234,000 after buying an additional 1,899 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Neurocrine Biosciences during the 1st quarter worth about $393,000. Institutional investors 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.