Neurocrine Biosciences, Inc. $NBIX Position Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.1% during the third quarter, Holdings Channel reports. The fund owned 53,588 shares of the company’s stock after buying an additional 5,788 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Neurocrine Biosciences were worth $7,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Basecamp Wealth Advisors LLC boosted its stake in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the first quarter worth $33,000. Ascentis Independent Advisors bought a new stake in Neurocrine Biosciences in the first quarter valued at $40,000. SJS Investment Consulting Inc. increased its stake in Neurocrine Biosciences by 67.2% in the first quarter. SJS Investment Consulting Inc. now owns 341 shares of the company’s stock valued at $45,000 after purchasing an additional 137 shares in the last quarter. Finally, TrinityBridge Ltd bought a new stake in Neurocrine Biosciences in the second quarter valued at $45,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Trading Down 0.3%

Shares of Neurocrine Biosciences stock opened at $145.53 on Thursday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12. The company has a market capitalization of $14.79 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 0.63 and a beta of 0.40. The stock has a fifty day simple moving average of $146.95 and a 200 day simple moving average of $147.27.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. During the same quarter last year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences, Inc. will post 7.72 EPS for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider David W. Boyer sold 826 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.45, for a total value of $130,053.70. Following the transaction, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. The trade was a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.20, for a total transaction of $363,289.20. Following the completion of the transaction, the chief financial officer owned 42,808 shares in the company, valued at approximately $6,729,417.60. The trade was a 5.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NBIX. Citigroup increased their price objective on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Cantor Fitzgerald boosted their target price on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings raised Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Stifel Nicolaus increased their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Mizuho upgraded Neurocrine Biosciences to a “hold” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.