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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Roberts Glore & Co. Inc. IL acquired a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $209,000. Fox Run Management L.L.C. purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $1,388,000. Waddell & Associates LLC acquired a new stake in shares of Neurocrine Biosciences in the third quarter valued at approximately $312,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 106.3% in the third quarter. EverSource Wealth Advisors LLC now owns 3,685 shares of the company’s stock valued at $517,000 after acquiring an additional 1,899 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its position in shares of Neurocrine Biosciences by 2.3% during the third quarter. Sound View Wealth Advisors Group LLC now owns 5,216 shares of the company’s stock worth $732,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the sale, the insider owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the sale, the director owned 7,429 shares in the company, valued at $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 46,966 shares of company stock worth $6,474,616. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Up 1.2%

Shares of NBIX opened at $132.25 on Friday. The stock’s 50 day moving average is $135.90 and its two-hundred day moving average is $140.51. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The firm has a market capitalization of $13.27 billion, a PE ratio of 28.38, a P/E/G ratio of 0.69 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The business had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same period last year, the company posted $1.69 earnings per share. The business’s quarterly revenue was up 28.3% on a year-over-year basis. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho upped their price target on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Truist Financial dropped their price objective on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wedbush increased their target price on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. TD Cowen raised their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, BMO Capital Markets reduced their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.05.

Neurocrine Biosciences Company 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.