Callan Family Office LLC Purchases New Position in Neurocrine Biosciences, Inc. $NBIX

Callan Family Office LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,270 shares of the company's stock, valued at approximately $285,000.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after buying an additional 135 shares in the last quarter. WPG Advisers LLC bought a new position in Neurocrine Biosciences in the first quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences in the first quarter worth approximately $34,000. SVB Wealth LLC bought a new position in Neurocrine Biosciences in the first quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC raised its stake in Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after buying an additional 214 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $137.52 on Friday. The firm has a market capitalization of $13.64 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The company's fifty day moving average price is $138.35 and its 200-day moving average price is $125.73.

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

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the sale, the director directly owned 514,596 shares of the company's stock, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Truist Financial initiated coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 price target on the stock. Guggenheim upped their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC upped their price target on Neurocrine Biosciences from $161.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $163.44.

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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