Neurocrine Biosciences (NASDAQ:NBIX) Rating Reiterated by Needham & Company LLC

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

A number of other equities analysts also recently weighed in on the stock. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Wedbush reiterated an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Mizuho upped their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences has an average rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Stock Down 1.3 %

Shares of NASDAQ:NBIX opened at $135.99 on Tuesday. The company has a market cap of $13.53 billion, a P/E ratio of 56.19 and a beta of 0.25. The business has a fifty day simple moving average of $136.63 and a 200-day simple moving average of $127.85. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter in the previous year, the business earned $0.88 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. Sell-side analysts expect that Neurocrine Biosciences will post 4.84 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, CEO Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $140.69, for a total transaction of $380,847.83. Following the completion of the sale, the chief executive officer now owns 502,188 shares of the company’s stock, valued at $70,652,829.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the completion of the transaction, the chief executive officer now owns 502,188 shares of the company’s stock, valued at $70,652,829.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,994 shares of company stock valued at $25,806,409. Insiders own 4.40% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of NBIX. New York State Teachers Retirement System increased its holdings in shares of Neurocrine Biosciences by 1.5% in the 1st quarter. New York State Teachers Retirement System now owns 103,310 shares of the company’s stock valued at $14,249,000 after acquiring an additional 1,541 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Neurocrine Biosciences by 42.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,823 shares of the company’s stock valued at $8,802,000 after purchasing an additional 18,884 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Neurocrine Biosciences by 9.1% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,023 shares of the company’s stock valued at $5,796,000 after purchasing an additional 3,500 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Neurocrine Biosciences by 7.0% during the first quarter. Assenagon Asset Management S.A. now owns 337,737 shares of the company’s stock worth $46,581,000 after purchasing an additional 22,177 shares during the period. Finally, Covenant Asset Management LLC lifted its position in shares of Neurocrine Biosciences by 1.9% in the 1st quarter. Covenant Asset Management LLC now owns 28,306 shares of the company’s stock worth $3,904,000 after buying an additional 535 shares during 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.