Brookstone Capital Management Purchases Shares of 4,353 Neurocrine Biosciences, Inc. $NBIX

Brookstone Capital Management purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,353 shares of the company’s stock, valued at approximately $611,000.

Several other institutional investors have also recently made changes to their positions in the business. Dodge & Cox grew its position in Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after buying an additional 32,190 shares during the period. JPMorgan Chase & Co. grew its position in shares of Neurocrine Biosciences by 59.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after acquiring an additional 1,590,749 shares during the period. AQR Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 40.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after purchasing an additional 435,385 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Neurocrine Biosciences by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company’s stock worth $128,226,000 after purchasing an additional 89,271 shares in the last quarter. Finally, Norges Bank bought a new position in Neurocrine Biosciences in the 2nd quarter worth $122,278,000. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In other news, Director Leslie V. Norwalk sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $152.23, for a total value of $761,150.00. Following the sale, the director directly owned 7,429 shares of the company’s stock, valued at approximately $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 43,866 shares of company stock valued at $6,570,237. 4.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NBIX shares. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Morgan Stanley cut their price objective on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Mizuho raised their target price on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Citigroup lifted their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.25.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $140.95 on Wednesday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The company’s fifty day moving average price is $147.06 and its 200-day moving average price is $139.14. The company has a market capitalization of $14.05 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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. The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. Neurocrine Biosciences’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the company posted $1.81 earnings per share. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.