Neurocrine Biosciences’ (NBIX) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report sent to investors on Tuesday morning, Benzinga reports.

NBIX has been the topic of several other reports. Morgan Stanley increased their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Oppenheimer raised their price target on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $116.19 on Tuesday. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 35.10 and a beta of 0.36. Neurocrine Biosciences has a one year low of $103.63 and a one year high of $157.98. The company’s fifty day moving average price is $122.22 and its two-hundred day moving average price is $133.84.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Neurocrine Biosciences will post 4.37 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ingrid Delaet sold 273 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the sale, the insider now owns 6,607 shares in the company, valued at approximately $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Julie Cooke sold 12,632 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,789,638.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,968 shares of company stock worth $8,999,632 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after buying an additional 216,500 shares during the period. AQR Capital Management LLC raised its position in shares of 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 purchasing an additional 228,444 shares during the period. Bank of New York Mellon Corp raised its position in shares of Neurocrine Biosciences by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after purchasing an additional 13,069 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Neurocrine Biosciences by 40.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock worth $97,828,000 after purchasing an additional 203,934 shares during the period. Institutional investors own 92.59% of the company’s stock.

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.