GAMMA Investing LLC Buys 395 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GAMMA Investing LLC lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 34.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,553 shares of the company’s stock after acquiring 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Neurocrine Biosciences during the fourth quarter valued at about $35,731,000. abrdn plc boosted its stake in shares of Neurocrine Biosciences by 2,503.0% in the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Neurocrine Biosciences by 18.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after acquiring an additional 18,070 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after purchasing an additional 8,630 shares during the period. Finally, HealthInvest Partners AB acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $1,662,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NBIX shares. Wedbush restated an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Evercore ISI assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group increased their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.36.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 12,632 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,789,638.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Julie Cooke sold 12,632 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary A. Lyons sold 12,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the completion of the sale, the director now directly owns 116,947 shares in the company, valued at $15,861,521.61. The disclosure for this sale can be found here. Insiders have sold 93,068 shares of company stock worth $12,906,761 over the last quarter. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $1.24 during mid-day trading on Tuesday, hitting $148.94. The stock had a trading volume of 293,590 shares, compared to its average volume of 822,732. Neurocrine Biosciences, Inc. has a 12-month low of $100.52 and a 12-month high of $157.98. The firm’s 50-day moving average is $139.82 and its two-hundred day moving average is $138.46. The firm has a market capitalization of $14.99 billion, a P/E ratio of 40.69 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced 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). The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. Analysts expect that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current year.

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.