CreativeOne Wealth LLC Acquires 4,361 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• CreativeOne Wealth LLC increased its stake in Neurocrine Biosciences, Inc. by 83.5% during the first quarter, accumulating a total of 9,585 shares valued at over $1 million.
• Several institutional investors also raised their stakes in Neurocrine, with Dodge & Cox boosting its holdings by 83.5%, now owning approximately 5.5 million shares worth around $612.1 million.
• Recently, insiders have sold a significant amount of shares, with Jude Onyia selling 59,819 shares for nearly $7.8 million, representing a 76.58% decrease in ownership.

CreativeOne Wealth LLC raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 83.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,585 shares of the company's stock after purchasing an additional 4,361 shares during the quarter. CreativeOne Wealth LLC's holdings in Neurocrine Biosciences were worth $1,060,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $331,000. Stifel Financial Corp increased its position in Neurocrine Biosciences by 24.2% during the 4th quarter. Stifel Financial Corp now owns 22,676 shares of the company's stock valued at $3,095,000 after purchasing an additional 4,425 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Neurocrine Biosciences by 38.8% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,707 shares of the company's stock worth $370,000 after purchasing an additional 757 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $260,000. Finally, Northern Trust Corp boosted its stake in shares of Neurocrine Biosciences by 27.3% during the 4th quarter. Northern Trust Corp now owns 981,939 shares of the company's stock valued at $134,035,000 after purchasing an additional 210,315 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $5.62 during trading hours on Wednesday, reaching $136.31. 743,720 shares of the company traded hands, compared to its average volume of 1,232,418. The firm has a 50-day moving average price of $131.81 and a 200 day moving average price of $119.77. The company has a market cap of $13.52 billion, a P/E ratio of 40.36, a P/E/G ratio of 1.01 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. The company had revenue of $687.50 million during 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%. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling

In related news, insider Jude Onyia sold 59,819 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the completion of the sale, the insider directly owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,960 shares of company stock valued at $23,955,553. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NBIX. Morgan Stanley lifted their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price objective on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Truist Financial initiated coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $163.00 target price on the stock. BMO Capital Markets lifted their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $159.50.

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.