Applied Finance Capital Management LLC Invests $316,000 in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Applied Finance Capital Management LLC has made a significant investment of $316,000 in Neurocrine Biosciences by purchasing 2,518 shares in the 2nd quarter.
• Neurocrine Biosciences reported $1.06 earnings per share (EPS) for the last quarter, surpassing analyst estimates of $0.98 and marking a 16.5% increase in quarterly revenue year-over-year.
• Analyst ratings for Neurocrine Biosciences show a strong outlook, with the average target price raised to $163.44 and multiple firms giving it a "Buy" or "Overweight" rating.

Applied Finance Capital Management LLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,518 shares of the company's stock, valued at approximately $316,000.

Other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Neurocrine Biosciences in the 1st quarter worth about $1,460,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Neurocrine Biosciences during the 2nd quarter valued at about $696,000. Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Neurocrine Biosciences by 167.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company's stock valued at $800,000 after purchasing an additional 4,526 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Neurocrine Biosciences by 229.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company's stock valued at $2,467,000 after purchasing an additional 13,301 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Up 1.9%

Shares of NASDAQ NBIX opened at $140.09 on Friday. The firm's 50-day moving average price is $138.65 and its 200-day moving average price is $125.96. The company has a market cap of $13.89 billion, a PE ratio of 41.45, a PEG ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Piper Sandler raised their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Stifel Nicolaus raised their price objective on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They set a "buy" rating and a $182.00 price objective for the company. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $163.44.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction that occurred on 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 approximately $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.80% of the company's stock.

About Neurocrine Biosciences

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.

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