Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Orion Porfolio Solutions LLC

Orion Porfolio Solutions LLC lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,944 shares of the company’s stock after acquiring an additional 4,426 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Neurocrine Biosciences were worth $4,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Neurocrine Biosciences by 10.8% in the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock valued at $2,640,000 after buying an additional 2,045 shares during the period. Saturn V Capital Management LP purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $7,313,000. Capital Fund Management S.A. raised its holdings in Neurocrine Biosciences by 15.9% in the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after acquiring an additional 27,987 shares in the last quarter. Rhenman & Partners Asset Management AB raised its holdings in Neurocrine Biosciences by 66.1% in the second quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after acquiring an additional 59,400 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Neurocrine Biosciences by 87.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock worth $15,732,000 after acquiring an additional 58,562 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $141.70 on Thursday. The company has a fifty day moving average of $145.93 and a two-hundred day moving average of $137.76. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18. The company has a market capitalization of $14.13 billion, a PE ratio of 33.90, a P/E/G ratio of 0.98 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. The business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 EPS. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kyle Gano sold 300 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the completion of the sale, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. This represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the transaction, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 43,866 shares of company stock valued at $6,570,237 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NBIX shares. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Truist Financial restated a “buy” rating and issued a $172.00 price target (up from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. UBS Group upped their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Piper Sandler raised their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $174.76.

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.