Landscape Capital Management L.L.C. Takes Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Landscape Capital Management acquired 9,616 shares of Neurocrine Biosciences in the second quarter, valued at approximately $1.62 million. Institutional investors and hedge funds collectively own 92.59% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $200.86; several firms recently raised their targets.
• Neurocrine reported quarterly EPS of $2.85, exceeding estimates of $1.65, while revenue rose 39.5% year over year to $959 million. However, insiders sold $21.67 million of shares over the past 90 days.

Landscape Capital Management L.L.C. acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,616 shares of the company's stock, valued at approximately $1,621,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Neurocrine Biosciences by 10.6% in the 1st quarter. Bank of America Corp DE now owns 583,827 shares of the company's stock valued at $76,913,000 after purchasing an additional 55,723 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $1,866,000. Wesbanco Bank Inc. grew its stake in shares of Neurocrine Biosciences by 88.9% during the fourth quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company's stock worth $2,411,000 after purchasing an additional 8,000 shares in the last quarter. SEB Asset Management AB acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $10,483,000. Finally, Swedbank AB increased its holdings in Neurocrine Biosciences by 6.7% in the fourth quarter. Swedbank AB now owns 584,129 shares of the company's stock valued at $82,847,000 after buying an additional 36,800 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NBIX shares. Wall Street Zen cut Neurocrine Biosciences from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Cantor Fitzgerald upped their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Citigroup increased their price objective on Neurocrine Biosciences from $246.00 to $249.00 and gave the company a "buy" rating in a report on Friday, July 31st. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a "buy" rating and a $213.00 price objective on the stock. Finally, Truist Financial raised their target price on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $200.86.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the business's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider owned 16,225 shares of the company's stock, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their position. The SEC filing for this sale provides additional information. 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 in the last 90 days. Company insiders own 4.60% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $152.57 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The stock has a market cap of $15.51 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. The firm has a fifty day moving average price of $167.14 and a 200 day moving average price of $148.88.

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

About Neurocrine Biosciences

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.

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source