Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Raymond James & Associates

Raymond James & Associates boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,446 shares of the company’s stock after acquiring an additional 2,552 shares during the period. Raymond James & Associates owned about 0.06% of Neurocrine Biosciences worth $7,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Neurocrine Biosciences by 48.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,744 shares of the company’s stock valued at $654,000 after purchasing an additional 1,550 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Neurocrine Biosciences by 23.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 506,666 shares of the company’s stock valued at $69,879,000 after purchasing an additional 96,563 shares during the period. State of Michigan Retirement System grew its holdings in Neurocrine Biosciences by 3.8% in the first quarter. State of Michigan Retirement System now owns 24,481 shares of the company’s stock valued at $3,376,000 after purchasing an additional 900 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Neurocrine Biosciences by 3.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after purchasing an additional 8,630 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Neurocrine Biosciences by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 10,795 shares of the company’s stock valued at $1,488,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $124.33 on Thursday. The company has a 50-day simple moving average of $121.02 and a 200-day simple moving average of $133.65. The firm has a market capitalization of $12.55 billion, a P/E ratio of 37.56 and a beta of 0.36. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly 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 firm had revenue of $590.20 million for 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 firm’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 EPS. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.37 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated 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 transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 7,143 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total value of $1,072,164.30. Following the completion of the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $376,300.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,336 shares of company stock worth $7,063,652 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several research reports. Barclays decreased their price objective on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price objective 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. Finally, Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $131.00 to $159.00 in a research note on Thursday, August 29th. Five equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.91.

About Neurocrine Biosciences

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.