Vident Advisory LLC Invests $202,000 in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Vident Advisory LLC invested approximately $202,000 in Neurocrine Biosciences, acquiring 1,824 shares during the first quarter.
• Insider transactions revealed significant sales, including Jude Onyia selling 59,819 shares for almost $7.8 million, which led to a 76.58% decrease in their ownership.
• JPMorgan raised their price objective for Neurocrine Biosciences from $140.00 to $145.00, reflecting positive sentiment among analysts, with a consensus target price of $160.00.

Vident Advisory LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,824 shares of the company's stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DE Burlo Group Inc. boosted its position in Neurocrine Biosciences by 2.2% during the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after purchasing an additional 100 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in Neurocrine Biosciences by 4.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock valued at $290,000 after purchasing an additional 120 shares in the last quarter. Aurora Investment Counsel boosted its position in Neurocrine Biosciences by 1.3% during the first quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock valued at $1,164,000 after purchasing an additional 138 shares in the last quarter. Illumine Investment Management LLC boosted its position in Neurocrine Biosciences by 1.5% during the first quarter. Illumine Investment Management LLC now owns 9,641 shares of the company's stock valued at $1,066,000 after purchasing an additional 139 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Neurocrine Biosciences by 1.3% during the first quarter. State of Alaska Department of Revenue now owns 11,680 shares of the company's stock valued at $1,291,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other news, insider Jude Onyia sold 59,819 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares in the company, valued at $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,960 shares of company stock worth $23,955,553 over the last three months. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Truist Financial initiated coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 price objective on the stock. 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 price objective on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, Stifel Nicolaus raised their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.00.

Neurocrine Biosciences Stock Down 2.0%

Shares of NASDAQ:NBIX opened at $141.25 on Thursday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 41.79, a PEG ratio of 1.04 and a beta of 0.28. The business has a 50-day moving average price of $133.55 and a 200-day moving average price of $120.80.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same period last year, the business posted $1.63 earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal 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.

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