Cetera Investment Advisers Has $1.31 Million Stock Position in 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 lifted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,857 shares of the company's stock after purchasing an additional 3,688 shares during the quarter. Cetera Investment Advisers' holdings in Neurocrine Biosciences were worth $1,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Dodge & Cox boosted its position in shares of Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. Orbimed Advisors LLC boosted its position in shares of Neurocrine Biosciences by 210.4% during the fourth 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 first 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 fourth quarter worth $43,434,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth $33,979,000. 92.59% of the stock is owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In related 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 transaction, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, 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 have sold 196,573 shares of company stock worth $25,112,766 in the last ninety days. Insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of several research reports. Needham & Company LLC boosted their price objective on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Canaccord Genuity Group boosted their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Wedbush boosted their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, UBS Group boosted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $160.90.

Neurocrine Biosciences Trading Up 0.2%

Shares of Neurocrine Biosciences stock traded up $0.26 during trading on Friday, hitting $131.57. 51,061 shares of the stock were exchanged, compared to its average volume of 1,274,789. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.25. The company has a fifty day moving average price of $129.06 and a 200-day moving average price of $119.95. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.87.

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