Neurocrine Biosciences' (NBIX) Hold Rating Reaffirmed at Needham & Company LLC

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report)'s stock had its "hold" rating reiterated by Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Raymond James reiterated an "outperform" rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Jefferies Financial Group increased their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Guggenheim increased their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Oppenheimer increased their price target on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.91.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded down $0.04 during trading hours on Tuesday, reaching $116.16. 1,136,586 shares of the stock were exchanged, compared to its average volume of 849,988. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The firm has a 50 day moving average of $122.22 and a 200 day moving average of $133.84. The stock has a market cap of $11.73 billion, a PE ratio of 34.85 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same period last year, the company earned $0.95 EPS. The company's revenue was up 30.4% compared to the same quarter last year. Equities research analysts anticipate that Neurocrine Biosciences will post 4.37 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,789,638.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,789,638.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares of the company's stock, valued at $5,499,554.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,968 shares of company stock worth $8,999,632. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in shares of Neurocrine Biosciences by 0.6% during the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company's stock worth $1,923,000 after acquiring an additional 84 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Neurocrine Biosciences by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company's stock worth $1,574,000 after acquiring an additional 90 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Neurocrine Biosciences by 14.7% during the second quarter. Fifth Third Bancorp now owns 716 shares of the company's stock worth $99,000 after acquiring an additional 92 shares during the last quarter. Total Clarity Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 4.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company's stock worth $335,000 after acquiring an additional 100 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in Neurocrine Biosciences by 7.0% in the second quarter. Caprock Group LLC now owns 1,669 shares of the company's stock worth $230,000 after purchasing an additional 109 shares in 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.