Baird Financial Group Inc. Boosts Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Baird Financial Group Inc. increased its holdings in Neurocrine Biosciences by 5.7%, owning a total of 57,820 shares worth approximately $6.4 million as of the end of the first quarter.
• Several large investors, including Mercer Global Advisors and Balyasny Asset Management, have also made significant investments in Neurocrine Biosciences, with Mercer increasing its stake by 52% in the fourth quarter.
• Recent analyst ratings have been positive, with multiple analysts raising their target prices for Neurocrine Biosciences, reflecting a consensus target price of $159.50 and a broad outlook of "Moderate Buy."

Baird Financial Group Inc. grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,820 shares of the company's stock after acquiring an additional 3,103 shares during the quarter. Baird Financial Group Inc. owned 0.06% of Neurocrine Biosciences worth $6,395,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NBIX. Mercer Global Advisors Inc. ADV increased its stake in shares of Neurocrine Biosciences by 52.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,112 shares of the company's stock worth $1,653,000 after buying an additional 4,143 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth $26,580,000. Captrust Financial Advisors increased its stake in shares of Neurocrine Biosciences by 18.7% in the fourth quarter. Captrust Financial Advisors now owns 11,644 shares of the company's stock worth $1,589,000 after buying an additional 1,836 shares during the period. Brevan Howard Capital Management LP increased its stake in shares of Neurocrine Biosciences by 8.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 6,600 shares of the company's stock worth $901,000 after buying an additional 507 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Neurocrine Biosciences by 46.5% in the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock worth $1,115,000 after buying an additional 2,593 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the transaction, the insider owned 4,730 shares in the company, valued at $638,550. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,960 shares of company stock worth $23,955,553. Company insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush lifted their target price on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $159.50.

Neurocrine Biosciences Trading Down 4.1%

Shares of NBIX stock opened at $136.11 on Thursday. 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 PE ratio of 40.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.28. The company's fifty day moving average price is $131.98 and its 200-day moving average price is $119.88.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 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 analysts' expectations 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 quarter in the previous year, the business posted $1.63 EPS. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal 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.

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