Federated Hermes Inc. Buys 3,818 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Federated Hermes Inc. increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,055 shares of the company’s stock after acquiring an additional 3,818 shares during the quarter. Federated Hermes Inc. owned about 0.11% of Neurocrine Biosciences worth $15,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at about $26,000. RFP Financial Group LLC raised its stake in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences during the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Neurocrine Biosciences in the 1st quarter worth $32,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $122.25 on Tuesday. The company has a 50 day simple moving average of $140.55 and a two-hundred day simple moving average of $138.56. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 33.68 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on NBIX. Royal Bank of Canada dropped their price objective on shares of Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. Jefferies Financial Group raised their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Citigroup upped their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wedbush reissued an “outperform” rating and set a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.20.

Insider Buying and Selling

In other news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares in the company, valued at $4,741,180.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Julie Cooke sold 900 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock worth $10,676,096 in the last three months. Insiders own 4.30% of the company’s stock.

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.