GAMMA Investing LLC Increases Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GAMMA Investing LLC boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 34.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,553 shares of the company’s stock after purchasing an additional 395 shares during the period. GAMMA Investing LLC’s holdings in Neurocrine Biosciences were worth $214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after acquiring an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after acquiring an additional 78 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Neurocrine Biosciences by 0.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after acquiring an additional 84 shares in the last quarter. Finally, Balentine LLC increased its position in shares of Neurocrine Biosciences by 4.0% in the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX traded up $1.24 during mid-day trading on Tuesday, reaching $148.94. 293,590 shares of the company traded hands, compared to its average volume of 822,732. Neurocrine Biosciences, Inc. has a fifty-two week low of $100.52 and a fifty-two week high of $157.98. The firm has a market cap of $14.99 billion, a PE ratio of 40.69 and a beta of 0.37. The stock has a fifty day simple moving average of $139.82 and a 200-day simple moving average of $138.46.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period in the previous year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the sale, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s 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 sale, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Julie Cooke sold 12,632 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,789,638.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,068 shares of company stock valued at $12,906,761. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NBIX has been the topic of several research analyst reports. HC Wainwright increased their price target on shares of Neurocrine Biosciences from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday. Barclays raised their price objective on Neurocrine Biosciences from $169.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday, August 1st. Finally, BMO Capital Markets upped their target price on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.36.

Neurocrine Biosciences 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.