Intech Investment Management LLC Increases Position in Neurocrine Biosciences, Inc. $NBIX

Intech Investment Management LLC boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,655 shares of the company’s stock after purchasing an additional 6,307 shares during the quarter. Intech Investment Management LLC’s holdings in Neurocrine Biosciences were worth $4,865,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Golden State Wealth Management LLC raised its position in Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Eastern Bank purchased a new position in Neurocrine Biosciences during the third quarter valued at $27,000. Quent Capital LLC purchased a new position in Neurocrine Biosciences during the third quarter valued at $32,000. Finally, MAI Capital Management grew its position in shares of Neurocrine Biosciences by 101.2% in the second quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NBIX shares. Wolfe Research began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target for the company. Wells Fargo & Company reduced their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Truist Financial decreased their target price on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Mizuho boosted their price target on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Royal Bank Of Canada reduced their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.05.

Insider Buying and Selling

In other news, Director Leslie V. Norwalk sold 5,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $152.23, for a total value of $761,150.00. Following the sale, the director directly owned 7,429 shares in the company, valued at approximately $1,130,916.67. This trade represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,966 shares of company stock valued at $6,474,616 in the last three months. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Up 1.2%

Shares of NBIX opened at $132.25 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The stock has a fifty day simple moving average of $135.90 and a two-hundred day simple moving average of $140.51. The company has a market capitalization of $13.27 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 0.69 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 earnings per share. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.