Nuveen LLC Acquires Shares of 286,496 Neurocrine Biosciences, Inc. $NBIX

Key Points

• Nuveen LLC invested approximately $31.69 million in Neurocrine Biosciences by purchasing 286,496 shares, representing about 0.29% ownership.
• Analysts have given Neurocrine Biosciences a consensus rating of "Moderate Buy" with an average target price of $160.90, highlighting several upward revisions by various research firms.
• Insider trading activity included significant share sales by company insiders, with over 196,000 shares sold in the last 90 days, indicating potential shifts in management confidence.

Nuveen LLC acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 286,496 shares of the company's stock, valued at approximately $31,686,000. Nuveen LLC owned 0.29% of Neurocrine Biosciences at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GeoWealth Management LLC boosted its position in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $34,000. Golden State Wealth Management LLC boosted its position 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 valued at $44,000 after acquiring an additional 214 shares during the period. Versant Capital Management Inc raised its stake in Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Neurocrine Biosciences in the first quarter valued at approximately $48,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Up 0.6%

Shares of NBIX stock traded up $0.82 during trading hours on Friday, hitting $136.10. 93,380 shares of the company's stock were exchanged, compared to its average volume of 1,253,324. The company has a market capitalization of $13.50 billion, a PE ratio of 40.32, a PEG ratio of 0.96 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.87. The business's 50 day simple moving average is $129.91 and its 200-day simple moving average is $119.34.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results 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 company had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. During the same period in the previous year, the firm earned $1.63 earnings per share. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wedbush raised their target price 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. Morgan Stanley raised their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lowered their target price on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Evercore ISI lowered their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction 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 of the company's stock, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares in the company, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,573 shares of company stock valued at $25,112,766 over the last three months. 4.80% of the stock is owned by company insiders.

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.