8,840 Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services increased its Neurocrine Biosciences stake by 352.8% in the third quarter, acquiring 8,840 shares for a total holding of 11,346 shares valued at approximately $1.55 million. Institutional investors and hedge funds collectively own 92.59% of NBIX.
• Neurocrine reported strong quarterly results, with EPS of $2.85 versus the $1.65 consensus estimate and revenue of $959 million, up 39.5% year over year. Analysts expect full-year EPS of $7.72.
• Analysts maintain a generally positive view, giving NBIX a consensus “Moderate Buy” rating and an average price target of $201.14, well above its recent $142.70 share price.

Diversify Advisory Services LLC increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 352.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,346 shares of the company's stock after buying an additional 8,840 shares during the period. Diversify Advisory Services LLC's holdings in Neurocrine Biosciences were worth $1,554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NBIX. Cordatus Wealth Management LLC acquired a new position in Neurocrine Biosciences in the third quarter worth about $299,000. Vontobel Holding Ltd. raised its stake in Neurocrine Biosciences by 8.8% during the third quarter. Vontobel Holding Ltd. now owns 3,109 shares of the company's stock valued at $441,000 after buying an additional 252 shares in the last quarter. Shelton Wealth Management LLC raised its stake in Neurocrine Biosciences by 62.9% during the third quarter. Shelton Wealth Management LLC now owns 9,959 shares of the company's stock valued at $1,413,000 after buying an additional 3,847 shares in the last quarter. Brindle & Bay Financial Advisors LLC raised its stake in Neurocrine Biosciences by 12.6% during the third quarter. Brindle & Bay Financial Advisors LLC now owns 1,431 shares of the company's stock valued at $203,000 after buying an additional 160 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in Neurocrine Biosciences by 160,372.7% during the 3rd quarter. Ninety One UK Ltd now owns 434,881 shares of the company's stock worth $61,684,000 after buying an additional 434,610 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Down 0.4%

Shares of NBIX stock opened at $142.70 on Friday. The business has a 50 day moving average of $147.49 and a two-hundred day moving average of $153.80. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12. The company has a market cap of $14.51 billion, a P/E ratio of 20.92, a PEG ratio of 0.63 and a beta of 0.40.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%. The business's revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. Analysts expect that Neurocrine Biosciences, Inc. will post 7.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David Boyer sold 826 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This represents a 8.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the sale, the director directly owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,387 shares of company stock worth $720,855 in the last three months. 4.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on NBIX. Morgan Stanley lifted their target price on Neurocrine Biosciences from $182.00 to $183.00 and gave the stock an "equal weight" rating in a research report on Friday, September 11th. Wells Fargo & Company upped their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Citigroup raised their price objective on Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Piper Sandler raised their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Neurocrine Biosciences from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $201.14.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company's research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine's leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.