Cetera Investment Advisers Buys 3,688 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Cetera Investment Advisers increased its holdings in Neurocrine Biosciences by 45.1%, acquiring an additional 3,688 shares, bringing its total to 11,857 shares valued at $1.31 million.
• Several institutional investors have recently adjusted their positions in Neurocrine Biosciences, with 92.59% of the stock now owned by such investors.
• Analysts have set a new average price target of $160.90 for Neurocrine Biosciences, with a consensus rating of "Moderate Buy" from research firms.

Cetera Investment Advisers raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,857 shares of the company's stock after purchasing an additional 3,688 shares during the period. Cetera Investment Advisers' holdings in Neurocrine Biosciences were worth $1,311,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Dodge & Cox boosted its holdings in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the last quarter. Orbimed Advisors LLC boosted its position in shares of Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after purchasing an additional 635,900 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock worth $43,516,000 after purchasing an additional 367,315 shares in the last quarter. Iron Triangle Partners LP bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $43,434,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $33,979,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Truist Financial began coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective for the company. Royal Bank Of Canada decreased their price target on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus raised their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction dated 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 sale, the insider owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,573 shares of company stock valued at $25,112,766 over the last three months. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Trading Up 2.1%

Shares of NASDAQ NBIX traded up $2.73 during midday trading on Wednesday, hitting $131.62. 1,056,635 shares of the company's stock were exchanged, compared to its average volume of 1,286,120. The business's fifty day moving average price is $128.79 and its two-hundred day moving average price is $119.99. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 0.89 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $653.09 million. During the same quarter last year, the company earned $1.63 EPS. The firm's revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.