Rehmann Capital Advisory Group Purchases New Shares in Neurocrine Biosciences, Inc. $NBIX

Rehmann Capital Advisory Group bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, HoldingsChannel.com reports. The firm bought 8,460 shares of the company’s stock, valued at approximately $1,426,000.

Other large investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth $240,000. Sigma Planning Corp acquired a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $1,687,000. Harvest Management LLC bought a new position in Neurocrine Biosciences in the 2nd quarter valued at approximately $273,000. Northwestern Mutual Wealth Management Co. boosted its position in Neurocrine Biosciences by 254.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 900 shares of the company’s stock valued at $152,000 after buying an additional 646 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its position in Neurocrine Biosciences by 1.8% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,628 shares of the company’s stock worth $949,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX opened at $156.76 on Wednesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The company’s 50-day moving average is $166.53 and its 200 day moving average is $149.76. The firm has a market capitalization of $15.93 billion, a P/E ratio of 22.99, a PEG ratio of 0.72 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the previous year, the business earned $1.65 EPS. The company’s revenue was up 39.5% compared to the same quarter last year. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research reports. Morgan Stanley reduced 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 report on Thursday, August 13th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 target price for the company. Needham & Company LLC lifted their target price on Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective for the company. Finally, Cantor Fitzgerald upped their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently 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 Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the transaction, the director owned 1,588 shares in the company, valued at approximately $289,031.88. The trade was a 44.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 66,438 shares of company stock valued at $11,461,708 in the last three months. 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.