Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Armistice Capital LLC

Key Points

• Armistice Capital LLC increased its stake in Neurocrine Biosciences by 12.1%, acquiring an additional 108,190 shares during the first quarter, making it the firm's 6th largest holding.
• Neurocrine Biosciences reported $1.06 EPS for the recent quarter, surpassing estimates, and achieved a revenue of $687.50 million, reflecting a 16.5% year-over-year increase.
• The stock currently holds a rating of "Moderate Buy" from analysts, with an average price target of $159.50, indicating a positive outlook on its market performance.

Armistice Capital LLC grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,000,190 shares of the company's stock after purchasing an additional 108,190 shares during the quarter. Neurocrine Biosciences comprises approximately 1.7% of Armistice Capital LLC's investment portfolio, making the stock its 6th biggest position. Armistice Capital LLC owned about 1.01% of Neurocrine Biosciences worth $110,621,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. WPG Advisers LLC bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Neurocrine Biosciences in the 1st quarter valued at $34,000. SVB Wealth LLC bought a new position in shares of Neurocrine Biosciences in the 1st quarter valued at $35,000. Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 116.9% in the 1st 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 during the last quarter. Finally, Versant Capital Management Inc increased its stake 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 buying an additional 328 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Down 4.1%

NBIX stock traded down $5.81 on Wednesday, hitting $136.11. The company had a trading volume of 1,500,049 shares, compared to its average volume of 725,143. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 1.01 and a beta of 0.28. The stock's 50-day simple moving average is $131.98 and its 200 day simple moving average is $119.88.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. The business 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 company's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on NBIX. Piper Sandler increased their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Guggenheim raised their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Canaccord Genuity Group lifted their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. UBS Group lifted their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley raised their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the business'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 completion of the sale, the director directly owned 514,596 shares of the company's stock, valued at $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,960 shares of company stock valued at $23,955,553. Company insiders own 4.30% 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.