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

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

A number of other equities analysts also recently issued reports on NBIX. HC Wainwright reiterated a buy rating and set a $150.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 24th. Wells Fargo & Company raised Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Citigroup lowered their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research report on Thursday, February 8th. Mizuho lifted their price objective on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

Shares of NASDAQ:NBIX opened at $140.71 on Wednesday. The stock’s 50 day moving average is $137.37 and its 200-day moving average is $128.88. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. Equities research analysts anticipate that Neurocrine Biosciences will post 4.78 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Neurocrine Biosciences 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 transaction of $432,227.20. Following the sale, the chief executive officer now directly owns 504,919 shares of the company’s stock, valued at $71,789,383.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares in the company, valued at $5,438,154.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. FCF Advisors LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $1,157,000. abrdn plc lifted its holdings in shares of Neurocrine Biosciences by 2,503.0% in the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after buying an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $1,245,000. HealthInvest Partners AB purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $1,256,000. 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.