Advisors Preferred LLC Invests $5.42 Million in Neurocrine Biosciences, Inc. $NBIX

Advisors Preferred LLC bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,074 shares of the company's stock, valued at approximately $5,415,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NBIX. Bank of America Corp DE grew its position in Neurocrine Biosciences by 10.6% during the 1st quarter. Bank of America Corp DE now owns 583,827 shares of the company's stock worth $76,913,000 after purchasing an additional 55,723 shares in the last quarter. Ruffer LLP purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $2,479,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $1,866,000. Wesbanco Bank Inc. boosted its position in shares of Neurocrine Biosciences by 88.9% in the fourth quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company's stock worth $2,411,000 after buying an additional 8,000 shares during the period. Finally, SEB Asset Management AB purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at $10,483,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $152.93 on Friday. The company has a market cap of $15.55 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.73 and a beta of 0.39. The stock has a 50-day moving average of $167.29 and a 200-day moving average of $148.85. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating 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 business had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same period last year, the business earned $1.65 EPS. The firm's revenue was up 39.5% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Analyst Ratings Changes

NBIX has been the topic of several research reports. TD Cowen upped their price objective on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Royal Bank Of Canada lifted their target price on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Morgan Stanley lowered their price target 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. Truist Financial upped their price target on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Zacks Research cut Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $200.86.

Insider Activity

In related news, insider Darin Lippoldt sold 10,000 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction 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 approximately $9,829,328.40. This represents a 15.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the firm's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at $2,937,049.50. The trade was a 21.21% 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 have sold a total of 131,524 shares of company stock valued at $21,668,924 over the last three months. Corporate insiders own 4.60% of the company's stock.

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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