Robinhood Asset Management LLC Buys New Position in Neurocrine Biosciences, Inc. $NBIX

Robinhood Asset Management LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,484 shares of the company’s stock, valued at approximately $10,194,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Neurocrine Biosciences during the 2nd quarter worth $2,310,886,000. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after purchasing an additional 498,058 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after purchasing an additional 180,100 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $152.57 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The company has a 50-day simple moving average of $167.14 and a 200 day simple moving average of $148.88. The company has a market capitalization of $15.51 billion, a PE 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, topping the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NBIX. Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Needham & Company LLC boosted their target price on Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wells Fargo & Company upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Guggenheim lifted their price target on Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.86.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the sale, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This represents a 15.45% 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. In the last 90 days, insiders have sold 131,524 shares of company stock worth $21,668,924. 4.60% of the stock is currently owned by company insiders.

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.