Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Neurocrine Biosciences by 6.7%, acquiring a total of 148,845 shares valued at approximately $16.46 million.
• Several large investors also boosted their holdings, including Dodge & Cox, which raised its ownership by 83.5%, now owning over $612 million in the stock.
• Neurocrine Biosciences reported earnings of $1.06 per share, exceeding analyst expectations, and projected a consensus of 4.28 EPS for the current fiscal year.

Voya Investment Management LLC boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,845 shares of the company's stock after acquiring an additional 9,404 shares during the quarter. Voya Investment Management LLC owned 0.15% of Neurocrine Biosciences worth $16,462,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. DE Burlo Group Inc. raised its holdings in Neurocrine Biosciences by 2.2% in the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after acquiring an additional 100 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in Neurocrine Biosciences by 0.9% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company's stock valued at $1,360,000 after purchasing an additional 107 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Neurocrine Biosciences by 4.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock valued at $290,000 after purchasing an additional 120 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Aurora Investment Counsel increased its stake in Neurocrine Biosciences by 1.3% in the first quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock valued at $1,164,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the business's 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the transaction, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. The trade was a 8.81% 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. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences Stock Down 0.3%

Shares of Neurocrine Biosciences stock traded down $0.43 on Friday, hitting $145.23. The company's stock had a trading volume of 1,711,619 shares, compared to its average volume of 722,550. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The firm has a fifty day moving average price of $135.26 and a 200-day moving average price of $122.07. The company has a market capitalization of $14.40 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 1.05 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data 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 net margin of 13.88% and a return on equity of 13.22%. The business had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same period in the previous year, the firm earned $1.63 EPS. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on NBIX shares. Stifel Nicolaus increased their price target 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. Guggenheim increased their price target 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. Wedbush increased their price target on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $160.26.

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.