Washington Capital Management Inc. Purchases 1,800 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Washington Capital Management Inc. increased its holdings in Neurocrine Biosciences by 40.9%, acquiring an additional 1,800 shares in the second quarter, bringing their total to 6,200 shares worth $779,000.
• Insiders have been actively selling shares, with Director Kevin Charles Gorman selling 106,322 shares valued at approximately $13.4 million, a 17.12% decrease in his position.
• Analysts have raised price targets for Neurocrine Biosciences, with Royal Bank Of Canada increasing its target from $144 to $149, indicating strong confidence in the stock.

Washington Capital Management Inc. raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 40.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,200 shares of the company's stock after acquiring an additional 1,800 shares during the quarter. Washington Capital Management Inc.'s holdings in Neurocrine Biosciences were worth $779,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. DE Burlo Group Inc. boosted its position in Neurocrine Biosciences by 2.2% during the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after acquiring an additional 100 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in Neurocrine Biosciences by 6.2% during the 2nd quarter. Central Pacific Bank Trust Division now owns 1,725 shares of the company's stock valued at $217,000 after acquiring an additional 100 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Neurocrine Biosciences by 0.9% during 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 acquiring an additional 107 shares in the last quarter. Sowell Financial Services LLC boosted its position in Neurocrine Biosciences by 2.2% during the 2nd quarter. Sowell Financial Services LLC now owns 4,893 shares of the company's stock valued at $615,000 after acquiring an additional 107 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its position in Neurocrine Biosciences by 4.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock valued at $290,000 after acquiring an additional 120 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 106,322 shares of the business'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 in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 457 shares of the business's 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 completion of the transaction, the insider owned 4,730 shares of the company's stock, valued at approximately $638,550. The trade was a 8.81% 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 in the last three months. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on NBIX shares. Royal Bank Of Canada lifted 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. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They set a "buy" rating and a $182.00 target price for the company. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $161.89.

Neurocrine Biosciences Stock Up 0.8%

Shares of NASDAQ NBIX opened at $142.00 on Monday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The firm has a market cap of $14.08 billion, a P/E ratio of 42.01, a PEG ratio of 1.02 and a beta of 0.28. The company has a 50 day moving average of $136.39 and a 200 day moving average of $123.41.

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 for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The company had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. During the same period in the previous year, the business earned $1.63 EPS. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences Company 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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