Ieq Capital LLC Invests $107.91 Million in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Ieq Capital acquired 640,304 Neurocrine Biosciences shares in the second quarter, valued at approximately $107.9 million, giving it a 0.63% stake. Institutional investors collectively own 92.59% of NBIX.
• Neurocrine reported quarterly earnings of $2.85 per share, exceeding the $1.65 consensus estimate, while revenue rose 39.5% year over year to $959 million.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $200.86 versus the stock’s reported price of $152.57.

Ieq Capital LLC acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 640,304 shares of the company's stock, valued at approximately $107,914,000. Neurocrine Biosciences accounts for about 0.5% of Ieq Capital LLC's holdings, making the stock its 28th biggest holding. Ieq Capital LLC owned 0.63% of Neurocrine Biosciences as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock worth $1,721,000 after acquiring an additional 68 shares during the last quarter. Huntington National Bank raised its stake in shares of Neurocrine Biosciences by 12.6% during the fourth quarter. Huntington National Bank now owns 678 shares of the company's stock valued at $96,000 after acquiring an additional 76 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in shares of Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock valued at $240,000 after acquiring an additional 78 shares during the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock worth $1,111,000 after purchasing an additional 80 shares during the period. Finally, Westpac Banking Corp lifted its holdings in shares of Neurocrine Biosciences by 6.0% during the first quarter. Westpac Banking Corp now owns 1,615 shares of the company's stock worth $213,000 after purchasing an additional 91 shares during the period. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 0.2%

Shares of NBIX opened at $152.57 on Friday. The stock has a market capitalization of $15.51 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. The firm's fifty day simple moving average is $167.14 and its two-hundred day simple moving average is $148.88. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $1.20. The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business's quarterly revenue was up 39.5% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings downgraded Neurocrine Biosciences from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Cantor Fitzgerald upped their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Wells Fargo & Company increased their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Sanford C. Bernstein began coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price objective on the stock. Finally, Needham & Company LLC upped their target price on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a "buy" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $200.86.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 11,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the sale, the insider owned 25,846 shares in the company, valued at $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the transaction, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 131,524 shares of company stock valued at $21,668,924 over the last 90 days. Insiders own 4.60% of the company's stock.

Neurocrine Biosciences Profile

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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