Affinity Asset Advisors LLC Acquires Shares of 50,000 Neurocrine Biosciences, Inc. $NBIX

Key Points

• Affinity Asset Advisors LLC acquired 50,000 shares of Neurocrine Biosciences, Inc. for approximately $5.53 million, representing about 0.05% of the company.
• Several hedge funds, including Y Intercept Hong Kong Ltd and Golden State Wealth Management LLC, increased their stakes in Neurocrine Biosciences during the first quarter of 2023.
• Neurocrine Biosciences reported a quarterly revenue of $687.5 million, exceeding analyst estimates by 5.3%, and a net profit margin of 13.88% for the period.

Affinity Asset Advisors LLC acquired a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 50,000 shares of the company's stock, valued at approximately $5,530,000. Affinity Asset Advisors LLC owned 0.05% of Neurocrine Biosciences as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at about $34,000. SVB Wealth LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at about $35,000. Golden State Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after acquiring an additional 214 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after acquiring an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $48,000. Institutional investors own 92.59% of the company's stock.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 457 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the transaction, the insider owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,960 shares of company stock worth $23,955,553. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

NBIX has been the subject of several recent research reports. Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. Eighteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.50.

Neurocrine Biosciences Stock Up 0.5%

Shares of Neurocrine Biosciences stock traded up $0.66 during midday trading on Friday, hitting $139.60. The company had a trading volume of 503,700 shares, compared to its average volume of 846,176. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 1.00 and a beta of 0.25. The company has a fifty day simple moving average of $131.26 and a 200 day simple moving average of $119.41. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. During the same period last year, the firm posted $1.63 EPS. Neurocrine Biosciences's revenue was up 16.5% on a year-over-year basis. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences Company 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.