RFG Advisory LLC Invests $1.38 Million in Neurocrine Biosciences, Inc. $NBIX

RFG Advisory LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,195 shares of the company’s stock, valued at approximately $1,381,000.

Other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at about $28,000. Basecamp Wealth Advisors LLC raised its stake in shares of Neurocrine Biosciences by 582.9% in the first 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 shares of Neurocrine Biosciences during the first quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NBIX. Citigroup raised their price target on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price objective on the stock. Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wedbush lifted their target price on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Stifel Nicolaus boosted their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $201.09.

Neurocrine Biosciences Price Performance

NBIX opened at $156.22 on Friday. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. The firm has a 50 day simple moving average of $164.46 and a 200 day simple moving average of $151.26. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $891.16 million. During the same period in the prior year, the business posted $1.65 earnings per share. Neurocrine Biosciences’s revenue was up 39.5% compared to the same quarter last year. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Insider Activity

In related news, insider Ingrid Delaet sold 8,433 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at approximately $2,899,732. This represents a 34.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie Norwalk sold 1,250 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares in the company, valued at $289,031.88. The trade was a 44.05% decrease in their position. 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. Insiders have sold a total of 40,188 shares of company stock valued at $7,118,633 in the last 90 days. 4.60% of the stock is owned by company insiders.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.