Cerity Partners LLC Acquires 44,852 Shares of Neurocrine Biosciences, Inc. $NBIX

Cerity Partners LLC lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 76.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,626 shares of the company’s stock after purchasing an additional 44,852 shares during the period. Cerity Partners LLC owned 0.10% of Neurocrine Biosciences worth $14,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Neurocrine Biosciences by 167.2% in the first quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company’s stock valued at $800,000 after buying an additional 4,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after acquiring an additional 2,747 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter valued at about $1,333,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday. TD Cowen increased their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, December 8th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.20.

Insiders Place Their Bets

In related news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the sale, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie V. Norwalk sold 1,190 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the transaction, the director owned 6,239 shares in the company, valued at approximately $967,606.51. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 43,866 shares of company stock worth $6,570,237. 4.80% of the stock is currently owned by insiders.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $135.79 on Friday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The firm’s 50 day simple moving average is $146.36 and its two-hundred day simple moving average is $139.73. The stock has a market capitalization of $13.54 billion, a P/E ratio of 32.49, a PEG ratio of 0.66 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) 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 business had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same period last year, the company earned $1.81 EPS. Neurocrine Biosciences’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share 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.