Neurocrine Biosciences’ (NBIX) Buy Rating Reaffirmed at Needham & Company LLC

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

A number of other equities analysts also recently commented on the stock. HC Wainwright reiterated a buy rating on shares of Neurocrine Biosciences in a report on Wednesday, January 18th. Oppenheimer Holdings Inc. started coverage on shares of Neurocrine Biosciences in a report on Tuesday, November 22nd. They issued a market perform rating and a $55.00 target price for the company. Leerink Swann reiterated an outperform rating and issued a $70.00 target price on shares of Neurocrine Biosciences in a report on Friday, December 23rd. Citigroup Inc initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, November 22nd. They issued a market perform rating and a $55.00 target price for the company. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a buy rating and set a $62.00 price objective (down previously from $65.00) on shares of Neurocrine Biosciences in a report on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $67.00.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences (NASDAQ:NBIX) traded down 1.42% during trading on Friday, hitting $43.87. 306,046 shares of the company were exchanged. Neurocrine Biosciences has a 1-year low of $32.91 and a 1-year high of $55.15. The firm’s 50 day moving average price is $43.78 and its 200-day moving average price is $45.46. The stock’s market capitalization is $3.82 billion.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, February 14th. The company reported ($0.51) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.05. During the same quarter in the prior year, the company earned ($0.34) earnings per share. Equities analysts predict that Neurocrine Biosciences will post ($2.28) EPS for the current year.

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In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 1,625 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $40.63, for a total value of $66,023.75. Following the sale, the insider now owns 114,704 shares in the company, valued at approximately $4,660,423.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William H. Rastetter sold 10,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $42.28, for a total value of $454,510.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at approximately $1,057,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,816 shares of company stock worth $1,387,036. Insiders own 4.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Dynamic Capital Management Ltd raised its stake in Neurocrine Biosciences by 125.1% in the third quarter. Dynamic Capital Management Ltd now owns 43,845 shares of the company’s stock valued at $2,220,000 after buying an additional 24,363 shares in the last quarter. Shell Asset Management Co. raised its stake in Neurocrine Biosciences by 40.0% in the third quarter. Shell Asset Management Co. now owns 15,278 shares of the company’s stock valued at $774,000 after buying an additional 4,368 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Neurocrine Biosciences by 7.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 284,790 shares of the company’s stock valued at $14,422,000 after buying an additional 19,399 shares in the last quarter. Emerald Advisers Inc. PA raised its stake in Neurocrine Biosciences by 3.5% in the third quarter. Emerald Advisers Inc. PA now owns 256,829 shares of the company’s stock valued at $13,006,000 after buying an additional 8,710 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new stake in Neurocrine Biosciences during the third quarter valued at approximately $744,000. Institutional investors and hedge funds own 97.60% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.

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