Diadema Partners LP Buys 31,795 Shares of Neurocrine Biosciences, Inc. $NBIX

Diadema Partners LP increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,042 shares of the company’s stock after purchasing an additional 31,795 shares during the quarter. Neurocrine Biosciences makes up approximately 3.6% of Diadema Partners LP’s investment portfolio, making the stock its 4th largest position. Diadema Partners LP’s holdings in Neurocrine Biosciences were worth $11,820,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. WPG Advisers LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth about $32,000. SVB Wealth LLC purchased a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $35,000. MAI Capital Management boosted its stake in shares of Neurocrine Biosciences by 101.2% in the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after buying an additional 165 shares during the period. Finally, True Wealth Design LLC lifted its stake in Neurocrine Biosciences by 1,215.4% in the second quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after acquiring an additional 316 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. The trade was a 0.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares in the company, valued at $6,127,455.20. The trade was a 30.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,300 shares of company stock valued at $4,925,901 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NBIX. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. TD Cowen upped their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Truist Financial reaffirmed a “buy” rating and set a $172.00 price target (up from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. Finally, Needham & Company LLC lifted their price target on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $155.02 on Wednesday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The stock has a 50-day simple moving average of $144.31 and a 200 day simple moving average of $136.65. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. During the same period last year, the firm posted $1.81 EPS. Neurocrine Biosciences’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.