United Services Automobile Association Buys Shares of 6,547 Neurocrine Biosciences, Inc. $NBIX

Key Points

• United Services Automobile Association invested approximately $741,000 in Neurocrine Biosciences, acquiring 6,547 shares of the company's stock in the first quarter.
• A significant number of institutional investors, including Dodge & Cox and Wellington Management Group, have also increased their stakes in Neurocrine Biosciences during the same period.
• Neurocrine Biosciences recently reported a quarterly earnings per share of $1.06, surpassing analyst estimates, and the company’s consensus rating among analysts is "Moderate Buy" with a target price of $160.00.

United Services Automobile Association purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,547 shares of the company's stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Great Lakes Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 599.6% in the 1st quarter. Great Lakes Advisors LLC now owns 32,006 shares of the company's stock valued at $3,540,000 after buying an additional 27,431 shares during the period. Parkman Healthcare Partners LLC boosted its stake in shares of Neurocrine Biosciences by 45.5% in the 1st quarter. Parkman Healthcare Partners LLC now owns 168,382 shares of the company's stock valued at $18,623,000 after buying an additional 52,655 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Neurocrine Biosciences by 0.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company's stock valued at $1,360,000 after buying an additional 107 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company's stock valued at $844,000 after buying an additional 2,747 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company's stock valued at $1,647,000 after buying an additional 5,577 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NBIX shares. UBS Group lifted their price objective on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Morgan Stanley raised their target price on Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Wedbush raised their target price on Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $160.00.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the transaction, the insider owned 4,730 shares of the company's stock, valued at $638,550. The trade was a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 7th. The stock was 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 in the company, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,960 shares of company stock valued at $23,955,553 over the last quarter. Company insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Down 1.2%

NBIX traded down $1.73 during trading on Friday, hitting $141.87. 485,690 shares of the stock were exchanged, compared to its average volume of 698,412. The firm has a market capitalization of $14.07 billion, a P/E ratio of 41.97, a PEG ratio of 1.02 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. The stock has a fifty day moving average price of $134.13 and a two-hundred day moving average price of $121.20.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly 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. The company had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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.