Empowered Funds LLC Takes Position in Neurocrine Biosciences, Inc. $NBIX

Empowered Funds LLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 13,827 shares of the company’s stock, valued at approximately $2,330,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $28,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth about $33,000. Finally, Meeder Asset Management Inc. grew its holdings in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. Weiss Ratings upgraded Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Stifel Nicolaus raised their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $200.86.

Neurocrine Biosciences Stock Up 0.7%

NBIX opened at $157.79 on Thursday. The stock’s fifty day moving average is $166.36 and its two-hundred day moving average is $150.00. The company has a market capitalization of $16.04 billion, a P/E ratio of 23.14, a PEG ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million for 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%. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the sale, the director directly owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This represents 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 65,188 shares of company stock valued at $11,251,633 in the last ninety days. 4.60% of the stock is currently owned by insiders.

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.