Wealth Enhancement Advisory Services LLC Raises Stock Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Neurocrine Biosciences, Inc. by 229.1% during the second quarter, ending up with a total of 19,107 shares valued at approximately $2.47 million.
• Analysts have upgraded Neurocrine Biosciences to a "strong-buy" rating, with price targets ranging from $161.89 to $182.00, indicating strong confidence in the company's performance.
• Insider trading activity saw the Director Kevin Charles Gorman selling over 106,000 shares in August, reducing his stake by 17.12% while still retaining significant ownership valued at over $65 million.

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 229.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,107 shares of the company's stock after buying an additional 13,301 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Neurocrine Biosciences were worth $2,467,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in Neurocrine Biosciences during the first quarter worth about $1,460,000. Golden State Wealth Management LLC lifted its holdings in Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after purchasing an additional 214 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at about $696,000. Fifth Third Bancorp lifted its holdings in shares of Neurocrine Biosciences by 31.7% during the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock worth $117,000 after buying an additional 254 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Neurocrine Biosciences by 167.2% during the first quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company's stock worth $800,000 after purchasing an additional 4,526 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NBIX. Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. UBS Group lifted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Stifel Nicolaus upped their price objective on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. 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 for the company. Finally, Wedbush reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Seventeen equities 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, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $161.89.

Neurocrine Biosciences Trading Up 0.8%

Shares of Neurocrine Biosciences stock opened at $142.00 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $154.61. The firm has a market capitalization of $14.08 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 1.02 and a beta of 0.28. The business's fifty day simple moving average is $136.39 and its 200 day simple moving average is $123.31.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share 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 business had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same quarter last year, the business posted $1.63 EPS. The business's revenue was up 16.5% on a year-over-year basis. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 457 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at $638,550. This represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,960 shares of company stock worth $23,955,553. Insiders own 4.80% 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.

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