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

Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports.

Several other research firms also recently weighed in on NBIX. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Barclays upped their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, BMO Capital Markets reduced their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $167.43.

Neurocrine Biosciences Stock Down 0.5 %

Neurocrine Biosciences stock opened at $150.51 on Friday. The firm’s fifty day moving average is $138.41 and its 200 day moving average is $131.64. Neurocrine Biosciences has a 12-month low of $110.95 and a 12-month high of $157.98. The company has a market capitalization of $15.24 billion, a PE ratio of 40.35 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. Sell-side analysts expect that Neurocrine Biosciences will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the sale, the director now owns 517,030 shares of the company’s stock, valued at $79,064,227.60. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock worth $32,718,279 over the last quarter. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. State Street Corp lifted its stake in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Geode Capital Management LLC increased its holdings in Neurocrine Biosciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after purchasing an additional 39,610 shares during the period. Braidwell LP increased its holdings in Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after purchasing an additional 158,665 shares during the period. Bank of New York Mellon Corp increased its holdings in Neurocrine Biosciences by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after purchasing an additional 12,040 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $115,193,000. 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.