Aurora Investment Counsel Buys Shares of 8,724 Neurocrine Biosciences, Inc. $NBIX

Key Points

• Aurora Investment Counsel initiated a position in Neurocrine Biosciences by purchasing 8,724 shares valued at approximately $1.47 million. Institutional investors collectively own 92.59% of the company.
• Neurocrine reported strong quarterly results, with earnings of $2.85 per share versus the $1.65 consensus estimate and revenue of $959 million, up 39.5% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $200.86, although some firms recently downgraded the stock to “Hold.”

Aurora Investment Counsel purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,724 shares of the company's stock, valued at approximately $1,470,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC grew its holdings in Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock valued at $1,721,000 after purchasing an additional 68 shares during the period. Huntington National Bank boosted its holdings in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company's stock valued at $96,000 after purchasing an additional 76 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in shares of Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock valued at $1,111,000 after buying an additional 80 shares during the period. Finally, Westpac Banking Corp grew its stake in shares of Neurocrine Biosciences by 6.0% during the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company's stock valued at $213,000 after buying an additional 91 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the topic of several research reports. Wells Fargo & Company increased their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Morgan Stanley lowered their price target on Neurocrine Biosciences from $196.00 to $182.00 and set an "equal weight" rating for the company in a research report on Thursday, August 13th. Wall Street Zen lowered Neurocrine Biosciences from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Zacks Research downgraded Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a 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 assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $200.86.

Neurocrine Biosciences Stock Up 0.8%

NBIX opened at $155.54 on Thursday. The firm's 50 day moving average is $167.48 and its 200-day moving average is $148.73. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The firm has a market capitalization of $15.81 billion, a P/E ratio of 22.81, a P/E/G ratio of 0.72 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to analysts' expectations of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company's revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Equities analysts expect that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 1,250 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% 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. Also, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% 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. In the last 90 days, insiders sold 131,524 shares of company stock worth $21,668,924. Company insiders own 4.60% of the company's stock.

Neurocrine Biosciences 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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