Neurocrine Biosciences (NASDAQ:NBIX) Rating Reiterated by Needham & Company LLC

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports.

NBIX has been the subject of several other reports. Barclays upped their price objective on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 24th. HC Wainwright reiterated a “buy” rating and set a $150.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 24th. 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 research report on Wednesday, March 20th. Finally, The Goldman Sachs Group upped their price target on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

NBIX stock traded up $0.88 during trading on Wednesday, reaching $140.71. 616,566 shares of the stock were exchanged, compared to its average volume of 853,838. The firm’s 50 day moving average is $137.37 and its 200 day moving average is $128.78. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The firm has a market cap of $14.00 billion, a P/E ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same period last year, the company posted $0.88 earnings per share. Neurocrine Biosciences’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, analysts predict that Neurocrine Biosciences will post 4.79 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kevin Charles Gorman sold 3,040 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $142.18, for a total value of $432,227.20. Following the transaction, the chief executive officer now owns 504,919 shares in the company, valued at approximately $71,789,383.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at approximately $5,438,154.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin Charles Gorman sold 3,040 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total transaction of $432,227.20. Following the sale, the chief executive officer now owns 504,919 shares of the company’s stock, valued at approximately $71,789,383.42. 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 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in Neurocrine Biosciences by 10.5% in the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after buying an additional 74 shares during the period. Quadrant Capital Group LLC increased its holdings in Neurocrine Biosciences by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after buying an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Neurocrine Biosciences by 3.2% in 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 during the period. Sunbelt Securities Inc. lifted its holdings in Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Neurocrine Biosciences by 0.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.