Evolve Private Wealth LLC Invests $849,000 in Neurocrine Biosciences, Inc. $NBIX

Evolve Private Wealth LLC acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 5,036 shares of the company’s stock, valued at approximately $849,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Neurocrine Biosciences in the second quarter worth $2,310,886,000. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after purchasing an additional 498,058 shares during the period. Renaissance Technologies LLC raised its position in Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after purchasing an additional 180,100 shares during the period. Geode Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after purchasing an additional 34,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NBIX shares. Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Guggenheim boosted their target price on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Piper Sandler boosted their price objective on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, BMO Capital Markets upped their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.86.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the sale, the insider owned 16,225 shares in the company, valued at $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director directly owned 1,588 shares in the company, valued at approximately $289,031.88. This represents a 44.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 131,524 shares of company stock valued at $21,668,924 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $152.57 on Monday. The firm has a fifty day moving average of $167.14 and a two-hundred day moving average of $148.96. The firm has a market cap of $15.51 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same quarter in the prior year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

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.