Integrated Wealth Concepts LLC Grows Stake in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Integrated Wealth Concepts LLC increased its stake in Neurocrine Biosciences, Inc. by 167.2%, acquiring an additional 4,526 shares, bringing its total holdings to 7,233 shares valued at approximately $800,000.
• Several large investors have significantly increased their positions in Neurocrine Biosciences during the first quarter, with Dodge & Cox growing its stake by 83.5%.
• Neurocrine Biosciences reported earnings of $1.06 per share, surpassing analysts' expectations, and had a revenue of $687.50 million, an increase of 16.5% year-over-year.

Integrated Wealth Concepts LLC grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 167.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,233 shares of the company's stock after purchasing an additional 4,526 shares during the period. Integrated Wealth Concepts LLC's holdings in Neurocrine Biosciences were worth $800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dodge & Cox raised its holdings in shares of Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after purchasing an additional 640,556 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Neurocrine Biosciences by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock valued at $170,281,000 after purchasing an additional 49,088 shares during the last quarter. Braidwell LP raised its holdings in shares of Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company's stock valued at $131,827,000 after purchasing an additional 290,135 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Neurocrine Biosciences by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock valued at $146,068,000 after purchasing an additional 175,879 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NBIX stock traded up $0.46 during midday trading on Tuesday, reaching $140.90. The company had a trading volume of 780,536 shares, compared to its average volume of 1,213,063. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 1.02 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The stock has a 50 day moving average price of $134.38 and a 200-day moving average price of $121.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping 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 the consensus estimate of $653.09 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business's quarterly revenue was up 16.5% on a year-over-year basis. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction dated 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 transaction, the insider directly owned 18,289 shares of the company's stock, valued at $2,385,982.94. The trade was a 76.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,960 shares of company stock worth $23,955,553. Insiders own 4.30% of the company's stock.

Analyst Ratings Changes

NBIX has been the subject of several analyst reports. Guggenheim raised their target price on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Piper Sandler raised their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Truist Financial began coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 target price for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average target price of $160.26.

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.