Cwm LLC Increases Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Cwm LLC boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 60.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,664 shares of the company’s stock after purchasing an additional 1,762 shares during the period. Cwm LLC’s holdings in Neurocrine Biosciences were worth $643,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FCF Advisors LLC bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $1,157,000. Norges Bank bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $35,731,000. abrdn plc grew its holdings in Neurocrine Biosciences by 2,503.0% during the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $1,245,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Neurocrine Biosciences by 18.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after purchasing an additional 18,070 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on NBIX. Barclays upped their price target on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, June 12th. Evercore ISI started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 target price on the stock. Finally, Citigroup upped their target price on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Neurocrine Biosciences news, Director Shalini Sharp sold 1,106 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $141.90, for a total value of $156,941.40. Following the completion of the transaction, the director now owns 994 shares of the company’s stock, valued at $141,048.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Insiders sold 88,697 shares of company stock valued at $11,975,615 over the last 90 days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Up 0.4 %

NASDAQ:NBIX opened at $134.57 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $93.02 and a 52 week high of $148.37. The firm has a 50 day moving average of $137.06 and a 200 day moving average of $135.05. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 37.07 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $512.21 million. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Neurocrine Biosciences 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.