NorthCrest Asset Manangement LLC Acquires 4,280 Shares of Neurocrine Biosciences, Inc. $NBIX

NorthCrest Asset Manangement LLC boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 68.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,542 shares of the company’s stock after purchasing an additional 4,280 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Neurocrine Biosciences were worth $1,444,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NBIX. Geneos Wealth Management Inc. lifted its stake in shares of 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 buying an additional 135 shares during the last quarter. Eastern Bank acquired a new stake in Neurocrine Biosciences during the third quarter worth approximately $27,000. Quent Capital LLC acquired a new stake in Neurocrine Biosciences during the third quarter worth approximately $32,000. MAI Capital Management boosted its holdings in shares of Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after acquiring an additional 165 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Neurocrine Biosciences by 1,215.4% in the second quarter. True Wealth Design LLC now owns 342 shares of the company’s stock valued at $43,000 after purchasing an additional 316 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 1.6%

NBIX opened at $134.54 on Wednesday. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 0.65 and a beta of 0.28. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The company has a 50-day simple moving average of $144.15 and a 200 day simple moving average of $140.11.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same period last year, the firm earned $1.81 EPS. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. TD Cowen upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. JPMorgan Chase & Co. lowered their price target on shares of Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.10.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the transaction, the director directly owned 6,239 shares of the company’s stock, valued at $967,606.51. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George J. Morrow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. This represents a 67.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,266 shares of company stock worth $11,400,517 in the last three months. Company insiders own 4.30% of the company’s stock.

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.