EdgeRock Capital LLC Buys New Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EdgeRock Capital LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 217 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors have also added to or reduced their stakes in the business. Headinvest LLC purchased a new stake in Neurocrine Biosciences during the 3rd quarter valued at about $28,000. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $33,000. Sunbelt Securities Inc. increased its stake in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after buying an additional 83 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Neurocrine Biosciences by 51.3% during the 3rd quarter. Fifth Third Bancorp now owns 622 shares of the company’s stock valued at $70,000 after buying an additional 211 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX stock traded down $4.17 during trading on Wednesday, hitting $139.02. 653,593 shares of the stock traded hands, compared to its average volume of 845,459. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 38.30 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1 year low of $89.04 and a 1 year high of $148.37. The firm’s 50 day moving average is $137.72 and its two-hundred day moving average is $129.51.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.78 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider David W. Boyer sold 1,328 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares in the company, valued at $662,831.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the sale, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,044 shares of company stock worth $24,399,293. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NBIX. Wedbush restated an “outperform” rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. HC Wainwright lifted their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. BMO Capital Markets boosted their target price on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, Guggenheim lifted their price target on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.