Rehmann Capital Advisory Group Takes Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Rehmann Capital Advisory Group initiated a position in Neurocrine Biosciences, purchasing 8,460 shares valued at approximately $1.43 million. Institutional investors collectively own 92.59% of the company.
• Neurocrine reported quarterly earnings of $2.85 per share, beating estimates of $1.65, while revenue rose 39.5% year over year to $959 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $200.86.
• Company insiders sold 66,438 shares worth approximately $11.46 million during the last quarter, including two director sales conducted under pre-arranged Rule 10b5-1 trading plans.

Rehmann Capital Advisory Group bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,460 shares of the company's stock, valued at approximately $1,426,000.

Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG acquired a new position in Neurocrine Biosciences in the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock worth $31,000 after purchasing an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the first quarter worth $33,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $33,000 after buying an additional 202 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Up 1.8%

Shares of NBIX opened at $156.76 on Wednesday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The stock has a market capitalization of $15.93 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.72 and a beta of 0.38. The company has a 50 day moving average of $166.53 and a 200-day moving average of $149.76.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The firm's revenue for the quarter was up 39.5% on a year-over-year basis. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NBIX has been the subject of a number of research analyst reports. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price target for the company. TD Cowen upped their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Cantor Fitzgerald raised their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, Wall Street Zen cut shares of Neurocrine Biosciences from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.86.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 1,250 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the sale, the director directly owned 1,588 shares in the company, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company's stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 66,438 shares of company stock worth $11,461,708. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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