Charles Schwab Investment Management Inc. Acquires 13,216 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Charles Schwab Investment Management Inc. raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 775,773 shares of the company's stock after purchasing an additional 13,216 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.78% of Neurocrine Biosciences worth $85,800,000 at the end of the most recent quarter.

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

Neurocrine Biosciences Stock Performance

NBIX stock traded up $1.59 during midday trading on Friday, hitting $132.90. 558,515 shares of the stock were exchanged, compared to its average volume of 1,076,537. The stock's 50-day moving average price is $129.21 and its 200-day moving average price is $119.62. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 0.96 and a beta of 0.25. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.87.

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

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 457 shares of the stock in a transaction 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 sale, the insider owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director directly owned 514,596 shares in the company, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,573 shares of company stock worth $25,112,766 over the last ninety days. Company insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NBIX shares. Guggenheim upped their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada lowered their target price on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. HC Wainwright lowered their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley raised their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target for the company. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.90.

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.