Rafferty Asset Management LLC Has $11.15 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Rafferty Asset Management LLC reduced its stake in Neurocrine Biosciences, Inc. by 5.8%, now owning 100,807 shares valued at approximately $11 million.
• Numerous institutional investors have recently increased or initiated positions in Neurocrine Biosciences, leading to institutional ownership of approximately 92.59% of the company.
• Neurocrine reported earnings of $1.06 per share for the last quarter, surpassing analyst expectations, with revenue increasing by 16.5% year-over-year.

Rafferty Asset Management LLC reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,807 shares of the company's stock after selling 6,204 shares during the quarter. Rafferty Asset Management LLC owned about 0.10% of Neurocrine Biosciences worth $11,149,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $34,000. SVB Wealth LLC bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $35,000. Golden State Wealth Management LLC increased 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 worth $44,000 after purchasing an additional 214 shares during the period. Versant Capital Management Inc increased its stake in shares of Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after purchasing an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $48,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NBIX. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Truist Financial began coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 target price on the stock. Stifel Nicolaus lifted their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets lifted their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.50.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $0.66 during trading on Monday, reaching $139.60. 503,700 shares of the company traded hands, compared to its average volume of 801,610. The stock's 50 day moving average price is $131.26 and its two-hundred day moving average price is $119.44. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 1.01 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider directly owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the sale, the insider directly owned 4,730 shares in the company, valued at $638,550. The trade was a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,960 shares of company stock valued at $23,955,553. 4.30% of the stock is currently owned by corporate 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.