Landscape Capital Management L.L.C. Acquires Shares of 9,616 Neurocrine Biosciences, Inc. $NBIX

Landscape Capital Management L.L.C. acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,616 shares of the company’s stock, valued at approximately $1,621,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Korea Investment CORP acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth about $29,155,000. EP Wealth Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter worth about $463,000. Ieq Capital LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at about $107,914,000. Robinhood Asset Management LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at about $10,194,000. Finally, Callan Family Office LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at about $476,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Down 0.2%

NASDAQ:NBIX opened at $152.57 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The stock 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. The firm’s fifty day simple moving average is $167.14 and its 200-day simple moving average is $148.88.

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

Analysts Set New Price Targets

A number of research firms have weighed in on NBIX. Weiss Ratings cut Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Needham & Company LLC upped their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Citigroup upped their price target on Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Morgan Stanley decreased their price target on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.86.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This represents a 62.28% 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 sold a total of 131,524 shares of company stock valued at $21,668,924 in the last 90 days. 4.60% of the stock is owned by corporate insiders.

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.