Lindenwold Advisors INC Buys New Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Lindenwold Advisors INC has acquired 2,160 shares of Neurocrine Biosciences, valued at approximately $239,000, as reported in their recent SEC filing.
• Neurocrine Biosciences has seen significant investment from various firms, with 92.59% of its stock currently owned by institutional investors.
• Despite recent insider sales, Neurocrine's stock has received positive ratings from analysts, with a consensus target price of $163.58.

Lindenwold Advisors INC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 2,160 shares of the company's stock, valued at approximately $239,000.

Several other hedge funds have also recently bought and sold shares of the stock. Dodge & Cox boosted its stake in shares of Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after buying an additional 1,728,605 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after buying an additional 739,199 shares during the last quarter. Orbimed Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after buying an additional 635,900 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock worth $43,516,000 after buying an additional 367,315 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $44,403,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NBIX. Royal Bank Of Canada reduced their price objective on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research note on Thursday. HC Wainwright dropped their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Piper Sandler upped their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.00.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded up $0.68 during midday trading on Friday, hitting $128.91. The company's stock had a trading volume of 1,395,006 shares, compared to its average volume of 901,206. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.40. The company has a 50-day moving average price of $128.26 and a two-hundred day moving average price of $121.03. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 1.32 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share 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 business had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same quarter in the previous year, the company earned $1.63 EPS. The business's revenue was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the transaction, the insider owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,251 shares of company stock worth $14,978,602 over the last three months. Company insiders own 4.80% of the company's stock.

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.