Neurocrine Biosciences, Inc. $NBIX Stock Position Lifted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,588 shares of the company’s stock after acquiring an additional 5,788 shares during the quarter. Oppenheimer & Co. Inc. owned 0.05% of Neurocrine Biosciences worth $7,601,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Basecamp Wealth Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $33,000. TrinityBridge Ltd bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at approximately $45,000. Transamerica Financial Advisors LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $48,000. Finally, Ascentis Independent Advisors acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider David Boyer sold 826 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the sale, the insider directly owned 8,722 shares in the company, valued at approximately $1,373,278.90. This trade represents a 8.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of Neurocrine Biosciences stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the topic of several recent research reports. UBS Group cut their price objective on Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $198.00 price target on shares of Neurocrine Biosciences in a research note on Tuesday, September 8th. Mizuho raised shares of Neurocrine Biosciences to a “hold” rating in a research note on Wednesday, September 16th. Finally, BMO Capital Markets cut their price target on shares of Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.14.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $145.53 on Thursday. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12. The firm’s fifty day moving average is $146.95 and its 200-day moving average is $147.27. The firm has a market cap of $14.79 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.63 and a beta of 0.40.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business 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%. Neurocrine Biosciences’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.72 earnings per share for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading 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.