Vanguard Personalized Indexing Management LLC Acquires 2,577 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Neurocrine Biosciences by 30.5%, acquiring an additional 2,577 shares during the second quarter, bringing its total holdings to 11,035 shares worth approximately $1.39 million.
• Neurocrine Biosciences reported earnings of $1.06 EPS for the most recent quarter, exceeding analyst expectations and reflecting a revenue increase of 16.5% year-over-year to $687.5 million.
• Wall Street analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average target price of $163.44 for Neurocrine's stock.

Vanguard Personalized Indexing Management LLC lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 30.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,035 shares of the company's stock after purchasing an additional 2,577 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Neurocrine Biosciences were worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. IFP Advisors Inc lifted its position in shares of Neurocrine Biosciences by 4.2% in the second quarter. IFP Advisors Inc now owns 2,172 shares of the company's stock worth $273,000 after purchasing an additional 88 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Neurocrine Biosciences in the second quarter worth $285,000. KLP Kapitalforvaltning AS lifted its position in shares of Neurocrine Biosciences by 1.7% in the second quarter. KLP Kapitalforvaltning AS now owns 36,700 shares of the company's stock worth $4,613,000 after purchasing an additional 600 shares in the last quarter. QRG Capital Management Inc. raised its position in Neurocrine Biosciences by 12.6% during the second quarter. QRG Capital Management Inc. now owns 22,581 shares of the company's stock worth $2,838,000 after acquiring an additional 2,519 shares in the last quarter. Finally, Pure Financial Advisors LLC bought a new stake in Neurocrine Biosciences during the second quarter worth $339,000. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $140.09 on Friday. The company's 50-day simple moving average is $138.65 and its 200 day simple moving average is $125.96. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The company has a market capitalization of $13.89 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.21.

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, beating 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 business had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. During the same period in the prior year, the company posted $1.63 earnings per share. Neurocrine Biosciences's revenue was up 16.5% compared to the same quarter last year. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were 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 represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NBIX. Piper Sandler upped their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They set a "buy" rating and a $182.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $163.44.

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.

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