Neurocrine Biosciences, Inc. $NBIX Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Neurocrine Biosciences by 106.6% in Q1 2023, now owning approximately 0.19% of the company, worth about $21.145 million.
• Insider selling has been notable, with significant transactions including Ingrid Delaet and Jude Onyia selling shares valued at over $7.8 million and $61,695 respectively.
• Neurocrine Biosciences reported strong Q2 earnings, with earnings per share of $1.06, exceeding expectations and reflecting a 16.5% year-over-year revenue increase.

American Century Companies Inc. increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 106.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,182 shares of the company's stock after acquiring an additional 98,659 shares during the quarter. American Century Companies Inc. owned about 0.19% of Neurocrine Biosciences worth $21,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GeoWealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after acquiring an additional 102 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $34,000. Golden State Wealth Management LLC increased its stake in 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 buying an additional 214 shares during the period. Versant Capital Management Inc increased its stake in Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after buying an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $48,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at $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 available at this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director owned 514,596 shares of the company's stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,960 shares of company stock worth $23,955,553. Company insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent analyst reports. Wedbush increased their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Canaccord Genuity Group increased their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus increased their price objective on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $159.50.

Neurocrine Biosciences Trading Up 0.0%

Shares of NASDAQ NBIX traded up $0.05 during mid-day trading on Thursday, reaching $138.18. The company had a trading volume of 253,392 shares, compared to its average volume of 1,241,597. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The stock has a market cap of $13.70 billion, a P/E ratio of 40.88, a PEG ratio of 0.99 and a beta of 0.25. The firm has a 50 day simple moving average of $130.76 and a two-hundred day simple moving average of $119.11.

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 (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 company had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. During the same period last year, the firm posted $1.63 EPS. Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences Company 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.