Integrated Wealth Concepts LLC Boosts 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 stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 167.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,233 shares of the company's stock after buying 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 reporting period.

A number of other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $1,460,000. Golden State Wealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after purchasing an additional 214 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Neurocrine Biosciences by 31.7% in the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock worth $117,000 after acquiring an additional 254 shares during the last quarter. Cetera Investment Advisers lifted its position in Neurocrine Biosciences by 46.5% during the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock valued at $1,115,000 after buying an additional 2,593 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in Neurocrine Biosciences by 778.4% during the first quarter. Walleye Capital LLC now owns 78,696 shares of the company's stock valued at $8,704,000 after buying an additional 69,737 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NBIX shares. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. UBS Group boosted their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Truist Financial initiated coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $160.26.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. This represents a 76.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director directly owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,960 shares of company stock valued at $23,955,553. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $2.93 during trading hours on Thursday, hitting $145.66. 788,875 shares of the company's stock were exchanged, compared to its average volume of 710,775. The stock's 50-day moving average is $135.03 and its 200-day moving average is $121.85. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 1.03 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results 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 firm 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%.The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences 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.