Neurocrine Biosciences, Inc. $NBIX Stock Holdings Boosted by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its holdings in Neurocrine Biosciences by 12.6% during Q2, owning 22,581 shares valued at approximately $2.84 million.
• Analysts have positive ratings for Neurocrine Biosciences, with 17 giving it a Buy rating and a consensus price target of $161.89.
• The company's Q2 earnings report showed a revenue of $687.5 million, exceeding estimates, and a net margin of 13.88%.

QRG Capital Management Inc. boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,581 shares of the company's stock after purchasing an additional 2,519 shares during the quarter. QRG Capital Management Inc.'s holdings in Neurocrine Biosciences were worth $2,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of 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 period. WPG Advisers LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $34,000. SVB Wealth LLC bought a new stake in Neurocrine Biosciences during the 1st quarter valued at $35,000. Finally, Golden State Wealth Management LLC raised 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 valued at $44,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NBIX shares. Wall Street Zen raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. UBS Group increased their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Stifel Nicolaus boosted their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Neurocrine Biosciences in a report on Saturday, September 27th. Finally, Guggenheim raised their price objective 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. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.89.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $139.43 on Tuesday. The firm's 50 day moving average is $137.10 and its 200-day moving average is $124.57. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The stock has a market capitalization of $13.83 billion, a P/E ratio of 41.25, a P/E/G ratio of 0.99 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. 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 posted $1.63 earnings per share. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 457 shares of the 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 completion of the transaction, the insider owned 4,730 shares in the company, valued at $638,550. This trade represents a 8.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares in the company, valued at $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 166,598 shares of company stock worth $21,305,846 in the last three months. 4.30% of the stock is currently owned by insiders.

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.

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