Daymark Wealth Partners LLC Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Daymark Wealth Partners LLC increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 18.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,774 shares of the company’s stock after buying an additional 274 shares during the period. Daymark Wealth Partners LLC’s holdings in Neurocrine Biosciences were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vestal Point Capital LP bought a new stake in Neurocrine Biosciences in the fourth quarter worth about $105,408,000. 1832 Asset Management L.P. lifted its stake in Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after purchasing an additional 504,400 shares during the last quarter. AQR Capital Management LLC grew its holdings in Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares during the period. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after purchasing an additional 220,598 shares during the period. Finally, Iron Triangle Partners LP purchased a new stake in Neurocrine Biosciences in the first quarter worth $30,342,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $115.06 on Friday. The company’s fifty day moving average price is $135.50 and its 200-day moving average price is $137.45. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 31.70 and a beta of 0.37. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98.

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

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,741,180.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the transaction, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,741,180.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,798 shares of company stock valued at $10,676,096. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $131.00 to $159.00 in a research note on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Robert W. Baird boosted their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their price objective on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Barclays reduced their price objective on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.20.

About Neurocrine Biosciences

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.