HighPoint Advisor Group LLC Invests $352,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

HighPoint Advisor Group LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,510 shares of the company’s stock, valued at approximately $352,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its holdings in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $31,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $33,000. Headinvest LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $28,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Neurocrine Biosciences by 34.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday. Wedbush restated an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Finally, Oppenheimer boosted their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,697 shares of company stock worth $11,975,615. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $134.07 on Friday. The company has a market cap of $13.49 billion, a PE ratio of 36.93 and a beta of 0.36. The firm has a fifty day moving average price of $137.06 and a two-hundred day moving average price of $134.92. Neurocrine Biosciences, Inc. has a fifty-two week low of $93.02 and a fifty-two week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The firm had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. Analysts expect that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.