Neurocrine Biosciences (NASDAQ:NBIX) Receives Hold Rating from 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 Thursday morning, Benzinga reports.

Other research analysts also recently issued research reports about the company. Citigroup increased their price target on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Wedbush reiterated an outperform rating and set a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Evercore ISI started coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an outperform rating and a $175.00 price target for the company. UBS Group raised their target price on Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Finally, Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $154.08.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $146.10 on Thursday. Neurocrine Biosciences has a 1 year low of $99.36 and a 1 year high of $150.39. The firm has a market cap of $14.70 billion, a PE ratio of 40.25 and a beta of 0.37. The stock has a fifty day moving average price of $139.07 and a 200-day moving average price of $137.81.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.62). The firm had revenue of $515.30 million for the quarter, compared to the consensus estimate of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. As a group, equities analysts anticipate that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total value of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,055,108.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $140.55, for a total value of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,055,108.85. The disclosure for this sale can be found here. Insiders have sold 80,709 shares of company stock valued at $11,009,150 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $35,731,000. abrdn plc boosted its position in shares of Neurocrine Biosciences by 2,503.0% during the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Neurocrine Biosciences by 18.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after purchasing an additional 18,070 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after purchasing an additional 8,630 shares in the last quarter. Finally, HealthInvest Partners AB bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $1,662,000. 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.