Great Lakes Advisors LLC Buys Shares of 4,983 Neurocrine Biosciences, Inc. $NBIX

Great Lakes Advisors LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,983 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. Geneos Wealth Management Inc. increased its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. DJE Kapital AG purchased a new position in Neurocrine Biosciences in the fourth quarter worth about $28,000. Basecamp Wealth Advisors LLC boosted its position in Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences in the first quarter worth about $33,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen upped their price target on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating on the stock in a report on Thursday, August 13th. Cantor Fitzgerald boosted their target price on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their target price on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Wedbush increased their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.86.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $152.57 on Friday. The stock has a 50-day simple moving average of $167.14 and a two-hundred day simple moving average of $148.88. The firm has a market capitalization of $15.51 billion, a PE ratio of 22.37, a P/E/G ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same quarter last year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 131,524 shares of company stock valued at $21,668,924. 4.60% of the stock is owned by 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.