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

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

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $131.00 to $159.00 in a research report on Thursday. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Barclays boosted their target price on Neurocrine Biosciences from $169.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, UBS Group boosted their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.28.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $123.76 on Thursday. The firm has a market capitalization of $12.45 billion, a PE ratio of 34.09 and a beta of 0.37. The stock has a fifty day simple moving average of $144.19 and a two-hundred day simple moving average of $139.44. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, sell-side analysts forecast that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Vestal Point Capital LP acquired a new stake in Neurocrine Biosciences during the fourth quarter worth $105,408,000. 1832 Asset Management L.P. increased its stake in Neurocrine Biosciences by 1,370.7% during the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after acquiring an additional 504,400 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after acquiring an additional 364,986 shares during the last quarter. Norges Bank acquired a new stake in Neurocrine Biosciences during the fourth quarter worth $35,731,000. Finally, AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after acquiring an additional 228,444 shares during the last quarter. Institutional investors and hedge funds 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.