Price T Rowe Associates Inc. MD Buys 49,088 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Price T Rowe Associates Inc. MD increased its shares in Neurocrine Biosciences, Inc. by 3.3%, owning 1,539,601 shares valued at approximately $170.28 million as of the most recent reporting period.
• Several hedge funds, including Marshall Wace LLP and GeoWealth Management LLC, have also recently adjusted their investments, with institutional investors owning 92.59% of Neurocrine's stock.
• Analyst ratings for Neurocrine Biosciences are predominantly positive, with updates from UBS and Goldman Sachs setting price targets as high as $182.00 and indicating a consensus "Moderate Buy" rating.

Price T Rowe Associates Inc. MD grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,539,601 shares of the company's stock after purchasing an additional 49,088 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.56% of Neurocrine Biosciences worth $170,281,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences in the 1st quarter valued at $34,000. 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. Golden State Wealth Management LLC grew its stake 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 in the last quarter. Versant Capital Management Inc increased its position in Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after acquiring an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in Neurocrine Biosciences in the 1st quarter worth about $48,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded down $0.14 during trading hours on Friday, hitting $138.80. The company's stock had a trading volume of 230,161 shares, compared to its average volume of 1,236,578. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The stock has a fifty day simple moving average of $131.00 and a 200-day simple moving average of $119.25. The company has a market capitalization of $13.77 billion, a P/E ratio of 41.08, a PEG ratio of 1.00 and a beta of 0.25.

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 return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business's quarterly revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other 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 directly owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction on 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 sale, the insider 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. Over the last ninety days, insiders sold 186,960 shares of company stock worth $23,955,553. Corporate insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of analyst reports. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They set a "buy" rating and a $182.00 target price on the stock. Piper Sandler increased their price target on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. UBS Group raised their price objective on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Stifel Nicolaus upped their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.

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.