Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 40.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,100 shares of the company’s stock after purchasing an additional 88,634 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.31% of Neurocrine Biosciences worth $42,278,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada cut their price target 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. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and upped their price target for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Citigroup upped their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, UBS Group upped their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.20.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $121.47 on Thursday. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 33.46 and a beta of 0.37. The business has a 50 day simple moving average of $141.63 and a 200 day simple moving average of $138.79. Neurocrine Biosciences, Inc. has a 52 week low of $103.63 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced 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 during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 930 shares of the business’s stock in a transaction that occurred 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 owns 119,047 shares of the company’s stock, valued at approximately $17,860,621.41. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 930 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares of the company’s stock, valued at $17,860,621.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,798 shares of company stock valued at $10,676,096. 4.30% of the stock is owned by corporate insiders.

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.