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

Needham & Company LLC restated their buy rating on shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in a research note released on Thursday morning. Needham & Company LLC currently has a $62.00 price objective on the stock.

Several other research analysts have also recently commented on NBIX. BMO Capital Markets reiterated an outperform rating and set a $72.00 price target (up previously from $66.00) on shares of Neurocrine Biosciences in a report on Thursday, October 27th. Deutsche Bank AG initiated coverage on shares of Neurocrine Biosciences in a report on Thursday, November 3rd. They set a buy rating and a $65.00 price target for the company. Piper Jaffray Companies reiterated an overweight rating and set a $96.00 price target on shares of Neurocrine Biosciences in a report on Thursday, November 3rd. Barclays PLC reiterated a buy rating and set a $60.00 price target on shares of Neurocrine Biosciences in a report on Thursday, November 3rd. Finally, Jefferies Group LLC reiterated a sell rating and set a $61.00 price target on shares of Neurocrine Biosciences in a report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $67.23.

Neurocrine Biosciences (NASDAQ:NBIX) traded up 0.80% on Thursday, hitting $42.79. 626,658 shares of the company’s stock were exchanged. Neurocrine Biosciences has a 12-month low of $32.18 and a 12-month high of $55.15. The company’s 50-day moving average price is $41.58 and its 200-day moving average price is $46.19. The company’s market cap is $3.72 billion.

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Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, February 14th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.05. During the same quarter last year, the firm posted ($0.34) EPS. Analysts forecast that Neurocrine Biosciences will post ($2.13) earnings per share for the current year.

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In other news, CFO Timothy P. Coughlin sold 963 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $43.14, for a total transaction of $41,543.82. Following the completion of the sale, the chief financial officer now owns 137,961 shares in the company, valued at approximately $5,951,637.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dimitri E. Grigoriadis sold 727 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $43.13, for a total transaction of $31,355.51. Following the sale, the insider now owns 115,756 shares of the company’s stock, valued at approximately $4,992,556.28. The disclosure for this sale can be found here. Insiders have sold a total of 32,816 shares of company stock valued at $1,387,036 in the last 90 days. Insiders own 4.80% of the company’s stock.

Several hedge funds have recently modified their holdings of NBIX. Creative Planning increased its stake in shares of Neurocrine Biosciences by 0.7% in the third quarter. Creative Planning now owns 5,338 shares of the company’s stock valued at $270,000 after buying an additional 38 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Neurocrine Biosciences by 1.3% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 50,875 shares of the company’s stock valued at $2,576,000 after buying an additional 640 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Neurocrine Biosciences by 1.6% in the third quarter. Teachers Advisors LLC now owns 73,619 shares of the company’s stock valued at $3,728,000 after buying an additional 1,166 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Neurocrine Biosciences by 20.8% in the third quarter. Pacer Advisors Inc. now owns 7,558 shares of the company’s stock valued at $383,000 after buying an additional 1,302 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in shares of Neurocrine Biosciences by 3.2% in the third quarter. Profund Advisors LLC now owns 44,422 shares of the company’s stock valued at $2,250,000 after buying an additional 1,377 shares in the last quarter. Institutional investors and hedge funds own 97.60% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.

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