Rice Hall James & Associates LLC Buys New Shares in Neurocrine Biosciences, Inc. $NBIX

Rice Hall James & Associates LLC purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 100,195 shares of the company’s stock, valued at approximately $16,886,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake 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 worth $25,000 after buying an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $28,000. Basecamp Wealth Advisors LLC increased its position in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after acquiring an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Neurocrine Biosciences during the first quarter worth about $33,000. Finally, Meeder Asset Management Inc. raised its holdings in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $154.49 on Tuesday. The company’s 50-day moving average is $167.81 and its 200-day moving average is $148.47. The firm has a market capitalization of $15.70 billion, a PE ratio of 22.65, a PEG ratio of 0.67 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping 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 business had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the previous year, the firm posted $1.65 EPS. Neurocrine Biosciences’s revenue was up 39.5% compared to the same quarter last year. Analysts predict that Neurocrine Biosciences, Inc. will post 7.77 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the sale, the insider owned 54,729 shares in the company, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 131,524 shares of company stock valued at $21,668,924. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several recent research reports. Cantor Fitzgerald increased their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BMO Capital Markets upped their price objective on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Piper Sandler increased their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wall Street Zen cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Guggenheim boosted their target price on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $200.86.

About Neurocrine Biosciences

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.