Vident Advisory LLC Makes New Investment 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 acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,824 shares of the company's stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also modified their holdings of NBIX. DE Burlo Group Inc. increased its stake in Neurocrine Biosciences by 2.2% in 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 shares of Neurocrine Biosciences by 4.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock worth $290,000 after purchasing an additional 120 shares in the last quarter. Aurora Investment Counsel grew its holdings in shares of Neurocrine Biosciences by 1.3% in the 1st quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock valued at $1,164,000 after buying an additional 138 shares during the period. Illumine Investment Management LLC increased its position in shares of Neurocrine Biosciences by 1.5% in the 1st quarter. Illumine Investment Management LLC now owns 9,641 shares of the company's stock valued at $1,066,000 after buying an additional 139 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Neurocrine Biosciences by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 11,680 shares of the company's stock worth $1,291,000 after buying an additional 145 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.46 during trading hours on Tuesday, reaching $140.90. 780,536 shares of the stock were exchanged, compared to its average volume of 700,837. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The firm has a 50 day moving average of $134.63 and a 200 day moving average of $121.49. The stock has a market cap of $13.97 billion, a PE ratio of 41.69, a PEG ratio of 1.01 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) 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 net margin of 13.88% and a return on equity of 13.22%. The firm's revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial started coverage on Neurocrine Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $163.00 target price on the stock. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Piper Sandler raised their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Wedbush increased their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Seventeen 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.26.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the sale, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. The trade was a 8.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,960 shares of company stock worth $23,955,553. Insiders own 4.30% of the company's stock.

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.