Robinhood Asset Management LLC Invests $10.19 Million in Neurocrine Biosciences, Inc. $NBIX

Robinhood Asset Management LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 60,484 shares of the company’s stock, valued at approximately $10,194,000. Robinhood Asset Management LLC owned about 0.06% of Neurocrine Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DJE Kapital AG bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its position in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Citigroup increased their price target on Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a report on Friday, July 31st. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price objective for the company. TD Cowen lifted their price objective on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Morgan Stanley dropped their target price on shares of Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.86.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $152.57 on Friday. The stock’s 50 day simple moving average is $167.14 and its 200 day simple moving average is $148.88. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The company has a market cap of $15.51 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter last year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. 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 90 days, insiders have sold 131,524 shares of company stock worth $21,668,924. Company insiders own 4.60% of the company’s stock.

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.