Neurocrine Biosciences, Inc. $NBIX Shares Bought by Stanley Laman Group Ltd.

Key Points

• Stanley Laman Group Ltd. increased its stake in Neurocrine Biosciences by 30.2% in the second quarter, owning 42,521 shares valued at over $5.34 million.
• Neurocrine Biosciences reported an earnings per share (EPS) of $1.06 for the second quarter, exceeding analysts' expectations of $0.98, with a revenue growth of 16.5% year-over-year.
• Analysts have set a consensus price target of $163.44 for Neurocrine Biosciences, with several firms, including UBS Group and Morgan Stanley, issuing buy ratings and raising their price targets.

Stanley Laman Group Ltd. lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 30.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,521 shares of the company's stock after purchasing an additional 9,862 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Neurocrine Biosciences were worth $5,344,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NBIX. Y Intercept Hong Kong Ltd bought a new position in shares of Neurocrine Biosciences during the 1st quarter valued at about $1,460,000. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Neurocrine Biosciences during the second quarter valued at approximately $696,000. Golden State Wealth Management LLC lifted its position in Neurocrine Biosciences by 116.9% in 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 in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Neurocrine Biosciences by 167.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company's stock valued at $800,000 after buying an additional 4,526 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Neurocrine Biosciences by 229.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company's stock worth $2,467,000 after acquiring an additional 13,301 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 1.9%

NASDAQ:NBIX opened at $140.09 on Friday. The stock has a market capitalization of $13.89 billion, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61. The firm has a 50 day moving average of $138.65 and a 200-day moving average of $125.96.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The company's revenue was up 16.5% on a year-over-year basis. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group raised their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Morgan Stanley boosted their target price on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Truist Financial assumed coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $163.44.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 514,596 shares in the company, valued at $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company's stock.

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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