Pure Financial Advisors LLC Buys New Stake in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Pure Financial Advisors LLC has acquired a new stake in Neurocrine Biosciences, purchasing 2,696 shares valued at approximately $339,000 in the second quarter.
• Equities analysts have given Neurocrine Biosciences a consensus rating of "Moderate Buy" with a price target averaging $161.89, reflecting positive sentiment in the market.
• Neurocrine Biosciences reported $1.06 EPS for the last quarter, exceeding expectations, with a revenue increase of 16.5% compared to the same quarter last year.

Pure Financial Advisors LLC bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,696 shares of the company's stock, valued at approximately $339,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% during 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 during the last quarter. WPG Advisers LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $34,000. SVB Wealth LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $35,000. Finally, Golden State Wealth Management LLC lifted its position in Neurocrine Biosciences by 116.9% during 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 last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group assumed 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 for the company. Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada raised their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Needham & Company LLC raised their price target on shares of Neurocrine Biosciences from $161.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Wedbush reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.89.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $137.03 on Friday. The firm has a fifty day moving average price of $136.98 and a 200 day moving average price of $124.19. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61. The stock has a market cap of $13.59 billion, a PE ratio of 40.54, a price-to-earnings-growth 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 (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 firm had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same quarter last year, the company posted $1.63 earnings per share. The firm's revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the sale, the insider owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the firm'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 sale, the insider owned 18,289 shares in the company, valued at approximately $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 quarter, insiders have sold 166,598 shares of company stock worth $21,305,846. 4.80% of the stock is owned by company insiders.

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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