Allworth Financial LP Purchases 2,845 Shares of Neurocrine Biosciences, Inc. $NBIX

Allworth Financial LP increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2,107.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,980 shares of the company’s stock after buying an additional 2,845 shares during the period. Allworth Financial LP’s holdings in Neurocrine Biosciences were worth $375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after acquiring an additional 2,518,199 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after purchasing an additional 740,842 shares in the last quarter. Wellington Management Group LLP grew its stake in Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after purchasing an additional 640,556 shares during the period. Swedbank AB increased its holdings in Neurocrine Biosciences by 5,078.9% in the first quarter. Swedbank AB now owns 429,697 shares of the company’s stock worth $47,524,000 after purchasing an additional 421,400 shares in the last quarter. Finally, Braidwell LP lifted its stake in Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after buying an additional 290,135 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NBIX shares. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Citigroup raised their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $170.53.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $144.86 on Monday. The company has a market capitalization of $14.44 billion, a P/E ratio of 34.66, a P/E/G ratio of 0.94 and a beta of 0.22. The business has a fifty day simple moving average of $142.64 and a two-hundred day simple moving average of $133.04. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. During the same quarter in the prior year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

In other news, CEO Kyle Gano sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.80% of the stock is 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.