Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 32.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,915 shares of the company's stock after acquiring an additional 21,726 shares during the period. Jacobs Levy Equity Management Inc. owned 0.09% of Neurocrine Biosciences worth $9,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. grew its stake in shares of Neurocrine Biosciences by 1.0% in the 1st quarter. Advisors Asset Management Inc. now owns 36,761 shares of the company's stock worth $4,066,000 after buying an additional 366 shares in the last quarter. AlTi Global Inc. grew its stake in shares of Neurocrine Biosciences by 32.9% in the 1st quarter. AlTi Global Inc. now owns 6,757 shares of the company's stock worth $747,000 after buying an additional 1,671 shares in the last quarter. Palo Alto Investors LP purchased a new position in shares of Neurocrine Biosciences in the 1st quarter worth $1,475,000. Braidwell LP grew its stake in shares of Neurocrine Biosciences by 32.2% in the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company's stock worth $131,827,000 after buying an additional 290,135 shares in the last quarter. Finally, First Financial Bankshares Inc lifted its holdings in shares of Neurocrine Biosciences by 3.1% in the 1st quarter. First Financial Bankshares Inc now owns 27,771 shares of the company's stock worth $3,071,000 after acquiring an additional 829 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction on 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 transaction, the director 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of 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 quarter, insiders sold 186,960 shares of company stock valued at $23,955,553. Corporate insiders own 4.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NBIX shares. Royal Bank Of Canada raised their target price on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Piper Sandler raised their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group raised their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Truist Financial started coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 target price for the company. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $160.00.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded down $1.73 during trading on Friday, hitting $141.87. 485,690 shares of the company's stock were exchanged, compared to its average volume of 702,053. The business has a 50-day simple moving average of $134.13 and a 200-day simple moving average of $121.18. 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 $14.07 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 1.03 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same quarter last year, the company posted $1.63 earnings per share. The firm's revenue was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal 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.