Great Lakes Advisors LLC Has $3.54 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Great Lakes Advisors LLC significantly increased its stake in Neurocrine Biosciences by 599.6% in the first quarter, now holding 32,006 shares valued at approximately $3.54 million.
• Research analysts have a generally positive outlook on Neurocrine Biosciences, with 18 analysts rating it a "Buy" and an average price target of $160.00.
• Insider activity showed significant stock sales, with insider Jude Onyia selling 59,819 shares for nearly $7.8 million, marking a drastic 76.58% decrease in ownership of the stock.

Great Lakes Advisors LLC grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 599.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,006 shares of the company's stock after acquiring an additional 27,431 shares during the period. Great Lakes Advisors LLC's holdings in Neurocrine Biosciences were worth $3,540,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter worth about $34,000. SVB Wealth LLC bought a new stake in Neurocrine Biosciences in the 1st quarter valued at about $35,000. Golden State Wealth Management LLC boosted its holdings in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after purchasing an additional 328 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NBIX. Truist Financial began coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $163.00 price target for the company. Royal Bank Of Canada raised their price objective on Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Piper Sandler raised their price target on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Guggenheim boosted their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $160.00.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the firm's 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 sale, the insider owned 18,289 shares in the company, valued at $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 457 shares of the business's 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 sale, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,960 shares of company stock valued at $23,955,553. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $141.25 on Thursday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The stock has a market capitalization of $14.01 billion, a P/E ratio of 41.79, a price-to-earnings-growth ratio of 1.04 and a beta of 0.28. The stock has a fifty day moving average of $133.55 and a 200-day moving average of $120.80.

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 analyst estimates 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 was up 16.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 earnings per share. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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.

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