Intech Investment Management LLC Has $9.46 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Intech Investment Management LLC raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 184.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,698 shares of the company’s stock after buying an additional 44,512 shares during the quarter. Intech Investment Management LLC owned 0.07% of Neurocrine Biosciences worth $9,458,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Mather Group LLC. bought a new stake in Neurocrine Biosciences in the first quarter valued at about $26,000. RFP Financial Group LLC grew its stake in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $28,000. Innealta Capital LLC bought a new position in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NBIX. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Morgan Stanley lifted their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. BMO Capital Markets decreased their price objective on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, August 29th. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Finally, Robert W. Baird increased their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.20.

Neurocrine Biosciences Stock Down 1.8 %

NASDAQ:NBIX opened at $118.35 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $103.63 and a 12-month high of $157.98. The stock’s fifty day simple moving average is $138.49 and its 200-day simple moving average is $138.14. The firm has a market capitalization of $11.91 billion, a P/E ratio of 32.60 and a beta of 0.37.

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

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the 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 sale, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is currently owned by company insiders.

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.