Banco Bilbao Vizcaya Argentaria S.A. Grows Stock Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Neurocrine Biosciences by 2.6% during Q1, now owning approximately 143,369 shares valued at $15.86 million.
• Multiple hedge funds, including Wellington Management Group LLP and Orbimed Advisors LLC, have made significant increases in their holdings in Neurocrine Biosciences, indicating strong institutional support.
• Analysts have given Neurocrine Biosciences an overall "Moderate Buy" rating, with target prices ranging from $115.00 to $185.00, reflecting positive sentiment about the company's performance and prospects.

Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 143,369 shares of the company's stock after buying an additional 3,699 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned 0.14% of Neurocrine Biosciences worth $15,857,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NBIX. Smallwood Wealth Investment Management LLC purchased a new position in shares of Neurocrine Biosciences in the 1st quarter worth approximately $34,000. GeoWealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the period. Golden State Wealth Management LLC boosted 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 purchasing an additional 214 shares during the period. Versant Capital Management Inc raised its holdings in Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after purchasing an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Neurocrine Biosciences in the first quarter worth about $48,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group boosted their target price 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. Truist Financial started coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 target price for the company. Wedbush increased their price objective on Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They set a "buy" rating and a $182.00 price objective for the company. Finally, Needham & Company LLC increased 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. 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 has an average rating of "Moderate Buy" and an average target price of $159.50.

Neurocrine Biosciences Price Performance

NBIX stock traded down $0.8880 during trading on Monday, hitting $134.5420. The stock had a trading volume of 117,601 shares, compared to its average volume of 1,249,124. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The stock has a market capitalization of $13.34 billion, a P/E ratio of 39.96, a PEG ratio of 0.98 and a beta of 0.25. The company's 50-day moving average price is $130.13 and its two-hundred day moving average price is $118.78.

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

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the transaction, the insider directly owned 4,730 shares in the company, valued at $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,573 shares of company stock worth $25,112,766. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences 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.