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

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

A number of other analysts have also recently commented on NBIX. Morgan Stanley boosted their price target on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Barclays boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, UBS Group increased their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $167.81.

Neurocrine Biosciences Stock Down 18.5 %

Shares of NBIX stock opened at $122.62 on Friday. The business’s fifty day moving average is $138.89 and its 200 day moving average is $131.77. The stock has a market cap of $12.42 billion, a price-to-earnings 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 announced its earnings results 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 net margin of 14.49% and a return on equity of 13.45%. Equities research analysts expect that Neurocrine Biosciences will post 6.53 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock valued at $32,718,279 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $115,193,000. State Street Corp increased its holdings in 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 acquiring an additional 539,936 shares during the last quarter. Jennison Associates LLC increased its holdings in Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after acquiring an additional 485,894 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after purchasing an additional 363,863 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in shares of Neurocrine Biosciences by 207.8% during the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after purchasing an additional 176,599 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.