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

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada cut their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. Wedbush reaffirmed an "outperform" rating and set a $148.00 target price on shares of Neurocrine Biosciences in a research note on Monday. BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald restated an "overweight" rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Finally, Raymond James reiterated an "outperform" rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $166.00.

Neurocrine Biosciences Trading Up 0.3 %

NBIX traded up $0.46 on Friday, reaching $135.42. The company had a trading volume of 2,265,589 shares, compared to its average volume of 884,102. The company has a market capitalization of $13.71 billion, a P/E ratio of 36.31 and a beta of 0.34. The company has a fifty day moving average of $123.99 and a 200-day moving average of $130.61. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 1,091 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now directly owns 2,507 shares of the company's stock, valued at $338,445. This trade represents a 30.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the business's 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 completion of the sale, the insider now directly owns 15,449 shares of the company's stock, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its position in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after buying an additional 539,936 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Neurocrine Biosciences by 1,370.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company's stock valued at $74,507,000 after acquiring an additional 504,400 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company's stock valued at $48,479,000 after acquiring an additional 363,863 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company's stock worth $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company's stock worth $339,790,000 after purchasing an additional 216,500 shares during the period. Institutional investors 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.