Arrowstreet Capital Limited Partnership Acquires 58,562 Shares of Neurocrine Biosciences, Inc. $NBIX

Arrowstreet Capital Limited Partnership raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 87.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,162 shares of the company’s stock after buying an additional 58,562 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.13% of Neurocrine Biosciences worth $15,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Neurocrine Biosciences in the 1st quarter worth approximately $32,000. SVB Wealth LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $35,000. MAI Capital Management raised its holdings in shares of Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after acquiring an additional 165 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in Neurocrine Biosciences by 1,215.4% in the second quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after acquiring an additional 316 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction 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 transaction, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. This represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 33,300 shares of company stock worth $4,925,901 over the last three months. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

NBIX opened at $154.99 on Tuesday. The firm has a market cap of $15.45 billion, a PE ratio of 37.08, a P/E/G ratio of 1.02 and a beta of 0.27. The stock has a 50-day moving average price of $144.01 and a 200-day moving average price of $136.41. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $172.00 target price (up previously from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. Piper Sandler raised their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Citigroup upped their target price on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Canaccord Genuity Group increased their target price on Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $173.00.

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.