6,782 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Acquired by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC invested approximately $750,000 in Neurocrine Biosciences, acquiring 6,782 shares.
• Neurocrine's quarterly earnings missed analysts' expectations, reporting $0.08 EPS against a consensus estimate of $0.70 EPS, with revenues of $572.60 million.
• Analyst ratings for Neurocrine Biosciences are predominantly positive, with 22 "buy" ratings and a consensus price target of $163.87.

Bryce Point Capital LLC bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,782 shares of the company's stock, valued at approximately $750,000.

Several other hedge funds have also recently modified their holdings of the stock. Huntington National Bank increased its position in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. GeoWealth Management LLC increased its position in Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences during the first quarter valued at $34,000. Golden State Wealth Management LLC increased its position in Neurocrine Biosciences by 116.9% during the first 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 position in Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after acquiring an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded down $7.71 on Thursday, hitting $129.05. 1,568,846 shares of the stock traded hands, compared to its average volume of 1,287,886. The firm's 50-day moving average price is $127.90 and its two-hundred day moving average price is $121.21. The stock has a market capitalization of $12.77 billion, a PE ratio of 43.76, a PEG ratio of 1.38 and a beta of 0.24. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. Neurocrine Biosciences's revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director directly owned 514,596 shares in the company, valued at $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 457 shares of the company'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 sale, the insider owned 4,730 shares in the company, valued at $638,550. The trade was a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,251 shares of company stock valued at $14,978,602 in the last quarter. Corporate insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada cut their price target on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a report on Thursday. Needham & Company LLC upped their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, UBS Group upped 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. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $165.21.

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.