Oppenheimer Asset Management Inc. Grows Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,146 shares of the company’s stock after acquiring an additional 1,725 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $2,085,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Principal Securities Inc. purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $75,000. Dimensional Fund Advisors LP raised its stake in Neurocrine Biosciences by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock valued at $44,343,000 after buying an additional 5,907 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after acquiring an additional 78 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Neurocrine Biosciences by 87.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,637 shares of the company’s stock worth $1,138,000 after acquiring an additional 4,030 shares during the last quarter. Finally, Level Four Advisory Services LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $651,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $122.31 on Wednesday. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The company’s fifty day simple moving average is $140.13 and its 200-day simple moving average is $138.50. The stock has a market capitalization of $12.31 billion, a PE ratio of 33.69 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter last year, the firm posted $0.95 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Insider Activity

In related news, insider Julie Cooke sold 900 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Julie Cooke sold 900 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,731,028.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Insiders have sold a total of 71,798 shares of company stock valued at $10,676,096 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NBIX. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Oppenheimer lifted their target price on Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Wedbush restated an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.20.

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.