Global Retirement Partners LLC Buys Shares of 10,222 Neurocrine Biosciences, Inc. $NBIX

Global Retirement Partners LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,222 shares of the company’s stock, valued at approximately $1,723,000.

Several other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. DJE Kapital AG bought a new position in Neurocrine Biosciences during the 4th quarter worth approximately $28,000. Basecamp Wealth Advisors LLC boosted its stake in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences during the first quarter valued at approximately $33,000. Finally, Meeder Asset Management Inc. grew its holdings in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $154.49 on Tuesday. The company has a market cap of $15.70 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.67 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The stock’s 50-day simple moving average is $167.81 and its 200 day simple moving average is $148.47.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same period last year, the business earned $1.65 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 7.77 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ingrid Delaet sold 4,367 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 131,524 shares of company stock valued at $21,668,924 in the last 90 days. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NBIX shares. Canaccord Genuity Group increased their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. BMO Capital Markets lifted their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Wells Fargo & Company upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.