640,304 Shares in Neurocrine Biosciences, Inc. $NBIX Purchased by Ieq Capital LLC

Ieq Capital LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 640,304 shares of the company’s stock, valued at approximately $107,914,000. Neurocrine Biosciences makes up approximately 0.5% of Ieq Capital LLC’s portfolio, making the stock its 28th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at approximately $2,310,886,000. AQR Capital Management LLC grew its position in shares of Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares in the last quarter. Norges Bank bought a new position in Neurocrine Biosciences in the 4th quarter worth about $162,664,000. Bank of New York Mellon Corp bought a new position in shares of Neurocrine Biosciences in the second quarter worth approximately $117,827,000. Finally, UBS Group AG grew its stake in Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NBIX. Piper Sandler upped their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Guggenheim lifted their price target on Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. BMO Capital Markets upped their price objective on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Wedbush increased their price objective on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Stifel Nicolaus raised their price objective on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.86.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at $9,829,328.40. This represents a 15.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 131,524 shares of company stock worth $21,668,924. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $152.57 on Friday. The firm has a market cap of $15.51 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The business has a 50 day moving average price of $167.14 and a 200-day moving average price of $148.88.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. Research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current 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.