Cwm LLC Raises Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Cwm LLC increased its stake in Neurocrine Biosciences by 150.3% during Q2, owning 26,289 shares valued at approximately $3.3 million.
• Neurocrine Biosciences reported a profit of $1.06 EPS for the last quarter, exceeding estimates and reflecting a 16.5% year-over-year revenue growth.
• Analysts have a consensus rating of "Moderate Buy" for Neurocrine Biosciences, with a price target average of $163.44.

Cwm LLC lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 150.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,289 shares of the company's stock after buying an additional 15,786 shares during the quarter. Cwm LLC's holdings in Neurocrine Biosciences were worth $3,304,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NBIX. Geneos Wealth Management Inc. raised its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the period. WPG Advisers LLC acquired a new position in Neurocrine Biosciences in the 1st quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences in the 1st quarter worth about $34,000. SVB Wealth LLC acquired a new position in Neurocrine Biosciences in the 1st quarter worth about $35,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $140.09 on Friday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61. The stock has a market cap of $13.89 billion, a PE ratio of 41.45, a P/E/G ratio of 0.99 and a beta of 0.21. The stock has a 50 day moving average price of $138.65 and a 200 day moving average price of $125.96.

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 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 analysts' expectations of $653.09 million. During the same quarter last year, the firm earned $1.63 earnings per share. The business's revenue for the quarter was up 16.5% on a year-over-year basis. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NBIX shares. Zacks Research raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Morgan Stanley increased their target price on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Needham & Company LLC increased their target price on Neurocrine Biosciences from $161.00 to $170.00 and gave the company a "buy" rating in a report on Monday, September 22nd. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.44.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the firm'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 sale, the director owned 514,596 shares of the company's stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by company insiders.

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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