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 research note issued to investors on Tuesday, Benzinga reports.

Several other research firms have also commented on NBIX. Wells Fargo & Company lifted their price target on Neurocrine Biosciences from $127.00 to $140.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. The Goldman Sachs Group boosted their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a report on Thursday, January 25th. Mizuho boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Finally, Wedbush reiterated an outperform rating and set a $147.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Stock Down 0.9 %

NASDAQ NBIX opened at $137.76 on Tuesday. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37. The business’s fifty day simple moving average is $136.56 and its 200-day simple moving average is $127.69. The firm has a market cap of $13.71 billion, a PE ratio of 56.93 and a beta of 0.25.

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

Insider Activity

In other news, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 value of $28,000.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,050,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,994 shares of company stock valued at $25,806,409. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently modified their holdings of NBIX. CWM LLC raised its stake in shares of Neurocrine Biosciences by 47.9% during the third quarter. CWM LLC now owns 2,049 shares of the company’s stock worth $231,000 after purchasing an additional 664 shares during the last quarter. AE Wealth Management LLC purchased a new position in Neurocrine Biosciences in the third quarter worth $521,000. SG Americas Securities LLC purchased a new position in Neurocrine Biosciences in the third quarter worth $2,751,000. Avior Wealth Management LLC raised its position in Neurocrine Biosciences by 74.4% in the third quarter. Avior Wealth Management LLC now owns 4,509 shares of the company’s stock worth $507,000 after acquiring an additional 1,924 shares in the last quarter. Finally, Mach 1 Financial Group LLC purchased a new position in Neurocrine Biosciences in the third quarter worth $496,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.