Creative Planning Raises Position in Neurocrine Biosciences, Inc. $NBIX

Creative Planning lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 31.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,245 shares of the company’s stock after buying an additional 3,422 shares during the quarter. Creative Planning’s holdings in Neurocrine Biosciences were worth $1,790,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in shares of Neurocrine Biosciences by 10.8% in the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock valued at $2,640,000 after purchasing an additional 2,045 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Neurocrine Biosciences in the 2nd quarter worth $696,000. Envestnet Asset Management Inc. boosted its position in Neurocrine Biosciences by 61.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company’s stock valued at $24,891,000 after buying an additional 75,733 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at about $342,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Neurocrine Biosciences by 229.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock valued at $2,467,000 after acquiring an additional 13,301 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 300 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,300 shares of company stock worth $4,925,901 over the last quarter. 4.80% of the stock is owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $151.58 on Thursday. The stock has a market capitalization of $15.11 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. The business’s fifty day moving average price is $142.62 and its 200 day moving average price is $134.47. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.67.

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

Analyst Upgrades and Downgrades

NBIX has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Needham & Company LLC upped their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. UBS Group lifted their price target on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Citigroup increased their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.53.

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.