Needham & Company LLC Reaffirms “Hold” Rating for Neurocrine Biosciences (NASDAQ:NBIX)

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

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets lowered their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Morgan Stanley increased their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $169.20.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $122.62 on Friday. The firm’s 50-day simple moving average is $138.81 and its 200-day simple moving average is $131.52. The firm has a market cap of $12.41 billion, a P/E ratio of 37.27 and a beta of 0.33. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. On average, equities analysts forecast that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,740 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,693 shares of company stock worth $32,718,279. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers increased its position in shares of Neurocrine Biosciences by 7.9% during the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after purchasing an additional 519 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Neurocrine Biosciences in the second quarter worth approximately $510,000. GAMMA Investing LLC grew its position in Neurocrine Biosciences by 11.9% during the third quarter. GAMMA Investing LLC now owns 1,738 shares of the company’s stock valued at $200,000 after acquiring an additional 185 shares during the last quarter. CWM LLC raised its stake in shares of Neurocrine Biosciences by 15.1% during the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Neurocrine Biosciences by 96.6% in the 3rd quarter. Perpetual Ltd now owns 12,560 shares of the company’s stock worth $1,447,000 after acquiring an additional 6,170 shares during the last quarter. 92.59% of the stock is currently owned by 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.