46,762 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 46,762 Neurocrine Biosciences shares in the second quarter, worth approximately $7.9 million. Institutional investors collectively own 92.59% of NBIX.
• Neurocrine reported quarterly EPS of $2.85, exceeding the $1.65 consensus estimate, while revenue rose 39.5% year over year to $959 million.
• Insiders sold 103,375 shares worth $17.2 million over the past three months. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $200.86.

Corient Private Wealth LP acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 46,762 shares of the company's stock, valued at approximately $7,881,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. BlackRock Inc. acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at $2,310,886,000. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 18.0% during the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company's stock worth $462,652,000 after acquiring an additional 498,058 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Neurocrine Biosciences by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company's stock worth $318,665,000 after purchasing an additional 180,100 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company's stock valued at $291,342,000 after buying an additional 34,457 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of 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 valued at $178,248,000 after acquiring an additional 88,522 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of the company's stock in a transaction 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 transaction, the insider owned 54,729 shares of the company's stock, valued at $9,829,328.40. This represents a 15.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $790,514.34. Following the transaction, the insider owned 16,225 shares of the company's stock, valued at $2,937,049.50. The trade was a 21.21% decrease in their position. 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 three months, insiders have sold 103,375 shares of company stock valued at $17,232,006. Corporate insiders own 4.60% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $154.06 on Monday. The firm has a market cap of $15.66 billion, a P/E ratio of 22.59, a PEG ratio of 0.72 and a beta of 0.39. The company has a 50 day moving average of $166.77 and a 200-day moving average of $149.50. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the prior year, the business earned $1.65 earnings per share. Neurocrine Biosciences's revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NBIX shares. Wall Street Zen downgraded shares of Neurocrine Biosciences from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Guggenheim boosted their target price on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an "outperform" rating and a $221.00 price target on the stock. BMO Capital Markets increased their price target on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a "market perform" rating in a report on Monday, July 13th. Finally, Stifel Nicolaus raised their price objective on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.86.

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.

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