Neurocrine Biosciences (NASDAQ:NBIX) Given Hold Rating at Needham & Company LLC

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

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Cantor Fitzgerald restated an overweight rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Barclays raised their price objective on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. Wedbush restated an outperform rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Finally, StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $139.67.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $140.09 on Tuesday. The company’s fifty day moving average price is $136.34 and its 200 day moving average price is $127.54. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The stock has a market capitalization of $13.94 billion, a P/E ratio of 57.89 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Sell-side analysts predict that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 200 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,050,980. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the completion of the transaction, the chief executive officer now directly 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 SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences stock in a transaction dated 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 transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,050,980. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,994 shares of company stock worth $25,806,409. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after acquiring an additional 74 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Neurocrine Biosciences by 3.9% during the fourth 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. grew its position in shares of Neurocrine Biosciences by 3.2% during the fourth 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. grew its position in shares of Neurocrine Biosciences by 34.3% during the third 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 grew its position in shares of Neurocrine Biosciences by 4.0% during the fourth 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 owned by institutional investors and hedge funds.

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.