Y Intercept Hong Kong Ltd Acquires New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Y Intercept Hong Kong Ltd bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,202 shares of the company's stock, valued at approximately $1,460,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after purchasing an additional 1,728,605 shares during the period. Wellington Management Group LLP increased its position in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after buying an additional 739,199 shares during the period. Orbimed Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after purchasing an additional 635,900 shares during the period. Assenagon Asset Management S.A. boosted its stake in Neurocrine Biosciences by 1,405.2% during the first quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock worth $43,516,000 after buying an additional 367,315 shares in the last quarter. Finally, Norges Bank acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $44,403,000. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction 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 sale, the insider owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director owned 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,251 shares of company stock worth $14,978,602. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Trading Down 1.5%

Shares of NBIX stock traded down $2.02 during trading hours on Thursday, hitting $131.64. 885,761 shares of the company's stock were exchanged, compared to its average volume of 732,545. The company has a market capitalization of $13.03 billion, a PE ratio of 44.62, a PEG ratio of 1.37 and a beta of 0.24. The business's 50 day simple moving average is $126.68 and its 200-day simple moving average is $121.38. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NBIX. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They set a "buy" rating and a $182.00 target price on the stock. Morgan Stanley lifted their target price on Neurocrine Biosciences from $148.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wedbush reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Truist Financial started coverage on Neurocrine Biosciences in a research note on Monday. They set a "buy" rating and a $163.00 target price for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average price target of $163.87.

Neurocrine Biosciences 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.