Great Lakes Advisors LLC Invests $840,000 in Neurocrine Biosciences, Inc. $NBIX

Great Lakes Advisors LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, Holdings Channel.com reports. The firm bought 4,983 shares of the company’s stock, valued at approximately $840,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in Neurocrine Biosciences by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after purchasing an additional 68 shares in the last quarter. Huntington National Bank grew its holdings in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after buying an additional 76 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares in the last quarter. Main Management ETF Advisors LLC raised its position in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after buying an additional 80 shares during the last quarter. Finally, Westpac Banking Corp raised its position in shares of Neurocrine Biosciences by 6.0% during the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after buying an additional 91 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This trade represents a 62.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $178.72, for a total transaction 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 trade represents a 34.20% 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. Over the last ninety days, insiders sold 131,524 shares of company stock worth $21,668,924. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $152.57 on Friday. The company has a market capitalization of $15.51 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The stock 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 posted its earnings results on Friday, July 31st. The company reported $2.85 earnings per share 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 during the quarter, compared to analyst estimates of $891.16 million. During the same period last year, the firm posted $1.65 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NBIX. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BMO Capital Markets lifted their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Piper Sandler increased their price objective on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Company Profile

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.