Rice Hall James & Associates LLC Invests $16.89 Million in Neurocrine Biosciences, Inc. $NBIX

Rice Hall James & Associates LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100,195 shares of the company’s stock, valued at approximately $16,886,000. Rice Hall James & Associates LLC owned about 0.10% of Neurocrine Biosciences at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NBIX. AQR Capital Management LLC grew its holdings in Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares during the period. Norges Bank bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $162,664,000. Bank of New York Mellon Corp acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at $117,827,000. UBS Group AG lifted its stake in shares of Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after purchasing an additional 618,956 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after purchasing an additional 472,408 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NBIX shares. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. TD Cowen boosted their target price on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.86.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider owned 25,846 shares of the company’s stock, valued at $4,141,821.50. This trade represents a 29.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 131,524 shares of company stock worth $21,668,924. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $154.49 on Tuesday. The firm has a market cap of $15.70 billion, a P/E ratio of 22.65, a PEG ratio of 0.67 and a beta of 0.39. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The firm’s 50 day moving average price is $167.81 and its two-hundred day moving average price is $148.47.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $1.20. The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.77 earnings per share for the current fiscal year.

About Neurocrine Biosciences

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.