Driehaus Capital Management LLC Has $12.01 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Driehaus Capital Management LLC increased its holdings in Neurocrine Biosciences by 5.5%, acquiring an additional 5,626 shares, bringing its total ownership to 108,547 shares valued at approximately $12 million.
• Neurocrine Biosciences reported a 16.5% year-over-year increase in revenue, totaling $687.5 million, and outperformed the consensus earnings estimate by posting $1.06 EPS.
• Insider selling was significant, with Director Kevin Charles Gorman selling 106,322 shares at an average price of $126.41, reducing his ownership by 17.12%.

Driehaus Capital Management LLC boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,547 shares of the company's stock after acquiring an additional 5,626 shares during the quarter. Driehaus Capital Management LLC owned 0.11% of Neurocrine Biosciences worth $12,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Marshall Wace LLP acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $331,000. Stifel Financial Corp increased its stake in shares of Neurocrine Biosciences by 24.2% in the fourth quarter. Stifel Financial Corp now owns 22,676 shares of the company's stock valued at $3,095,000 after buying an additional 4,425 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Neurocrine Biosciences by 38.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,707 shares of the company's stock valued at $370,000 after buying an additional 757 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $260,000. Finally, Northern Trust Corp increased its stake in shares of Neurocrine Biosciences by 27.3% in the fourth quarter. Northern Trust Corp now owns 981,939 shares of the company's stock valued at $134,035,000 after buying an additional 210,315 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NBIX. Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Needham & Company LLC raised their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada reduced their target price on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $159.50.

Neurocrine Biosciences Trading Down 4.1%

Shares of NASDAQ:NBIX traded down $5.81 during trading on Wednesday, hitting $136.11. 1,500,049 shares of the company's stock traded hands, compared to its average volume of 1,237,208. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.28. The company has a 50-day moving average price of $131.81 and a 200-day moving average price of $119.77.

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, beating the consensus estimate of $0.98 by $0.08. The business had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the sale, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,960 shares of company stock worth $23,955,553. Corporate insiders own 4.30% of the company's stock.

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.