Neurocrine Biosciences (NASDAQ:NBIX) Earns Hold Rating from Needham & Company LLC

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

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Wells Fargo & Company lifted their target price on Neurocrine Biosciences from $127.00 to $140.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Mizuho raised their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Finally, Wedbush reissued an outperform rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $139.67.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $140.09 on Tuesday. The stock’s 50-day moving average is $136.34 and its 200-day moving average is $127.54. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 57.89 and a beta of 0.25. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. During the same period last year, the business posted $0.88 EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts anticipate that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the sale, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the sale, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David W. Boyer sold 456 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The disclosure for this sale can be found here. Insiders sold 186,994 shares of company stock valued at $25,806,409 over the last quarter. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after acquiring an additional 150,485 shares in the last quarter. DSM Capital Partners LLC raised its holdings in Neurocrine Biosciences by 15.4% in the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after acquiring an additional 163,747 shares in the last quarter. Brown Advisory Inc. raised its holdings in Neurocrine Biosciences by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after acquiring an additional 23,831 shares in the last quarter. Braidwell LP raised its holdings in Neurocrine Biosciences by 3.7% in the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after acquiring an additional 34,662 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after buying an additional 364,986 shares in the last quarter. Institutional investors and hedge funds 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.