Neurocrine Biosciences, Inc. $NBIX Shares Bought by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR increased its stake in Neurocrine Biosciences by 296.6% during Q2, acquiring a total of 29,065 shares valued at approximately $3.65 million.
• Neurocrine Biosciences reported a 16.5% increase in revenue year-over-year, reaching $687.5 million, along with earnings per share of $1.06, surpassing analysts' expectations.
• Wall Street analysts maintain a "Moderate Buy" rating on Neurocrine Biosciences, with an average target price of $163.44 based on positive market sentiment and recent performance.

Generali Asset Management SPA SGR raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 296.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,065 shares of the company's stock after acquiring an additional 21,736 shares during the period. Generali Asset Management SPA SGR's holdings in Neurocrine Biosciences were worth $3,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted 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 acquiring an additional 135 shares in the last quarter. WPG Advisers LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $34,000. SVB Wealth LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $35,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 116.9% in the first 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 last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $137.73 on Thursday. The business's 50-day moving average is $138.11 and its two-hundred day moving average is $125.55. The company has a market capitalization of $13.66 billion, a P/E ratio of 40.75, a P/E/G ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the 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 sale, the director directly owned 514,596 shares of the company's stock, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group upped their target price on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Truist Financial started coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $163.00 target price on the stock. Needham & Company LLC upped their target price on Neurocrine Biosciences from $161.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $163.44.

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.

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