Motley Fool Asset Management LLC Raises Stock Position in Neurocrine Biosciences, Inc. $NBIX

Motley Fool Asset Management LLC raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,667 shares of the company’s stock after buying an additional 209 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Neurocrine Biosciences were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC increased 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 valued at $44,000 after buying an additional 214 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Neurocrine Biosciences by 10.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 16,220 shares of the company’s stock valued at $1,794,000 after purchasing an additional 1,586 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at approximately $34,000. Vontobel Holding Ltd. grew its position in shares of Neurocrine Biosciences by 17.8% in the first quarter. Vontobel Holding Ltd. now owns 9,943 shares of the company’s stock valued at $1,100,000 after purchasing an additional 1,501 shares during the last quarter. Finally, GF Fund Management CO. LTD. grew its position in shares of Neurocrine Biosciences by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 2,593 shares of the company’s stock valued at $287,000 after purchasing an additional 467 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NBIX has been the topic of several research reports. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. UBS Group increased their price target on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Finally, Citigroup initiated coverage on shares of Neurocrine Biosciences in a research report on Tuesday, October 21st. They issued a “buy” rating and a $175.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.32.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the firm’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 transaction of $13,440,164.02. Following the sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $147.38 on Wednesday. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61. The firm’s 50 day moving average price is $140.54 and its 200 day moving average price is $128.79. The firm has a market cap of $14.62 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 1.02 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same quarter last year, the business earned $1.81 earnings per share. Neurocrine Biosciences’s revenue was up 27.8% compared to the same quarter last year. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current 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.