RFG Advisory LLC Invests $1.38 Million in Neurocrine Biosciences, Inc. $NBIX

RFG Advisory LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,195 shares of the company’s stock, valued at approximately $1,381,000.

Several other institutional investors and hedge funds have also 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 worth $25,000 after buying an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $28,000. Basecamp Wealth Advisors LLC lifted its position in shares of 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 buying an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $33,000. Finally, Meeder Asset Management Inc. boosted 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 worth $33,000 after acquiring an additional 202 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBIX. BMO Capital Markets raised their price objective on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Wells Fargo & Company increased their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Morgan Stanley upped their price objective on shares of Neurocrine Biosciences from $182.00 to $183.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.09.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $156.22 on Friday. The company has a 50-day moving average of $164.46 and a 200-day moving average of $151.26. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.73 and a beta of 0.38.

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

Insider Activity

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction 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 directly owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director directly owned 1,588 shares of the company’s stock, valued at $289,031.88. This represents a 44.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 40,188 shares of company stock worth $7,118,633. Company insiders own 4.60% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.