Oppenheimer & Co. Inc. Boosts Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Oppenheimer & Co. Inc. increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,238 shares of the company’s stock after purchasing an additional 283 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Neurocrine Biosciences were worth $2,373,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after purchasing an additional 13,069 shares during the last quarter. Vestal Point Capital LP acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $105,408,000. Allspring Global Investments Holdings LLC raised its stake in shares of Neurocrine Biosciences by 40.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock valued at $97,828,000 after buying an additional 203,934 shares during the last quarter. Finally, Avidity Partners Management LP lifted its holdings in shares of Neurocrine Biosciences by 0.9% in the 4th quarter. Avidity Partners Management LP now owns 658,000 shares of the company’s stock valued at $86,698,000 after buying an additional 5,900 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Gary A. Lyons sold 930 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the sale, the director now directly owns 119,047 shares of the company’s stock, valued at $17,860,621.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 930 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the transaction, the director now owns 119,047 shares in the company, valued at $17,860,621.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock worth $10,676,096 over the last three months. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NBIX. Barclays reduced their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group increased their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. BMO Capital Markets cut their price objective on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, August 29th. Finally, Robert W. Baird increased their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $162.20.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $122.25 on Tuesday. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The stock has a market cap of $12.30 billion, a P/E ratio of 33.68 and a beta of 0.37. The stock’s 50 day simple moving average is $140.55 and its 200-day simple moving average is $138.56.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.19 EPS 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.