AlphaQuest LLC Boosts Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

AlphaQuest LLC grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3,271.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,149 shares of the company’s stock after buying an additional 12,759 shares during the period. AlphaQuest LLC’s holdings in Neurocrine Biosciences were worth $1,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Neurocrine Biosciences by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 29,207 shares of the company’s stock worth $4,100,000 after buying an additional 321 shares during the period. SYM FINANCIAL Corp acquired a new stake in Neurocrine Biosciences during the third quarter worth about $247,000. Summit Global Investments raised its holdings in shares of Neurocrine Biosciences by 214.0% in the 3rd quarter. Summit Global Investments now owns 36,155 shares of the company’s stock worth $5,075,000 after purchasing an additional 24,639 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 2.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock valued at $506,000 after purchasing an additional 84 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NBIX. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Mizuho increased their price objective on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Truist Financial reduced their target price on shares of Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, TD Cowen raised their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.25.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $136.06 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.28. The firm’s fifty day moving average price is $143.13 and its 200 day moving average price is $140.19.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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 return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. During the same period last year, the firm earned $1.81 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 5,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the completion of the transaction, the director directly owned 7,429 shares in the company, valued at approximately $1,130,916.67. This represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the sale, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. The trade was a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,266 shares of company stock valued at $11,400,517 in the last three months. 4.80% of the stock is currently owned by company insiders.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.