Tidal Investments LLC Acquires 53,045 Shares of Neurocrine Biosciences, Inc. $NBIX

Tidal Investments LLC lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 186.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,460 shares of the company’s stock after buying an additional 53,045 shares during the period. Tidal Investments LLC’s holdings in Neurocrine Biosciences were worth $13,729,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Neurocrine Biosciences by 0.5% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after purchasing an additional 68 shares during the period. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after purchasing an additional 76 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after purchasing an additional 78 shares during the period. Main Management ETF Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after buying an additional 80 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in shares of Neurocrine Biosciences by 6.0% in the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after buying an additional 91 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 0.2%

NASDAQ:NBIX opened at $156.22 on Friday. The stock has a market capitalization of $15.88 billion, a PE ratio of 22.91, a P/E/G ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The firm has a fifty day simple moving average of $164.46 and a 200 day simple moving average of $151.26.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $891.16 million. During the same period last year, the business posted $1.65 EPS. Neurocrine Biosciences’s revenue was up 39.5% on a year-over-year basis. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76. Following the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,899,732. This trade represents a 34.20% decrease in their position. 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. Over the last quarter, insiders have sold 40,188 shares of company stock worth $7,118,633. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NBIX. Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Cantor Fitzgerald increased their target price on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. TD Cowen raised their target price on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $201.09.

Neurocrine Biosciences Company Profile

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.