Condor Capital Management Takes $690,000 Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Condor Capital Management has acquired 6,241 shares of Neurocrine Biosciences, valued at approximately $690,000, marking a new position for the fund in the company.
• Neurocrine Biosciences reported earnings of $1.06 EPS for the last quarter, surpassing analyst expectations and achieving a revenue of $687.50 million.
• Several analysts have increased their price targets for Neurocrine Biosciences, with Morgan Stanley setting a target at $158.00 and maintaining an "overweight" rating.

Condor Capital Management purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,241 shares of the company's stock, valued at approximately $690,000.

A number of other large investors also recently bought and sold shares of the stock. Dodge & Cox lifted its holdings in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the period. AQR Capital Management LLC lifted its holdings in Neurocrine Biosciences by 2.9% in the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after acquiring an additional 53,610 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Neurocrine Biosciences by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock valued at $146,068,000 after acquiring an additional 175,879 shares during the period. Northern Trust Corp lifted its holdings in Neurocrine Biosciences by 27.3% in the fourth quarter. Northern Trust Corp now owns 981,939 shares of the company's stock valued at $134,035,000 after acquiring an additional 210,315 shares during the period. Finally, Invesco Ltd. lifted its holdings in Neurocrine Biosciences by 8.6% in the fourth quarter. Invesco Ltd. now owns 949,512 shares of the company's stock valued at $129,608,000 after acquiring an additional 74,847 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Up 4.0%

Shares of NBIX traded up $4.91 during midday trading on Tuesday, reaching $128.89. The company had a trading volume of 994,359 shares, compared to its average volume of 1,287,631. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.87. The stock has a market cap of $12.78 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 0.90 and a beta of 0.25. The firm has a 50 day simple moving average of $128.71 and a 200-day simple moving average of $119.93.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The business had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same period last year, the company earned $1.63 EPS. The company's revenue for the quarter was up 16.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target for the company. Guggenheim upped their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. HC Wainwright reduced their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average target price of $160.90.

Insider Transactions at Neurocrine Biosciences

In other news, insider Jude Onyia sold 59,819 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director owned 514,596 shares of the company's stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,573 shares of company stock worth $25,112,766. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.