Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Walleye Capital LLC

Key Points

• Walleye Capital LLC increased its stake in Neurocrine Biosciences by 778.4%, acquiring an additional 69,737 shares and owning a total of 78,696 shares valued at approximately $8.7 million.
• Insider transactions included Director Kevin Charles Gorman selling 106,322 shares, reducing his ownership by 17.12% and indicating potential shifts in confidence among executives.
• Analyst ratings remain positive, with multiple firms raising price targets and giving Neurocrine Biosciences various buy ratings, reflecting strong market expectations for the company's performance.

Walleye Capital LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 778.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,696 shares of the company's stock after buying an additional 69,737 shares during the period. Walleye Capital LLC owned approximately 0.08% of Neurocrine Biosciences worth $8,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at about $1,460,000. Golden State Wealth Management LLC raised its holdings in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after buying an additional 214 shares during the period. Fifth Third Bancorp raised its holdings in Neurocrine Biosciences by 31.7% in the 1st quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock valued at $117,000 after buying an additional 254 shares during the period. Cetera Investment Advisers raised its holdings in Neurocrine Biosciences by 46.5% in the 4th quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock valued at $1,115,000 after buying an additional 2,593 shares during the period. Finally, American Century Companies Inc. raised its holdings in Neurocrine Biosciences by 106.6% in the 1st quarter. American Century Companies Inc. now owns 191,182 shares of the company's stock valued at $21,145,000 after buying an additional 98,659 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $0.66 on Friday, reaching $139.60. 503,700 shares of the company were exchanged, compared to its average volume of 801,610. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The company has a market cap of $13.85 billion, a P/E ratio of 41.30, a price-to-earnings-growth ratio of 1.01 and a beta of 0.28. The stock's 50 day moving average price is $131.26 and its 200-day moving average price is $119.44.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The business had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same period in the previous year, the company posted $1.63 earnings per share. The business's revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They set a "buy" rating and a $182.00 price target on the stock. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average target price of $159.50.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $2,385,982.94. This 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 this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 514,596 shares of the company's stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,960 shares of company stock valued at $23,955,553. 4.30% of the stock is currently owned by corporate insiders.

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.