Hussman Strategic Advisors Inc. Boosts Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Hussman Strategic Advisors Inc. boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 200.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,200 shares of the company’s stock after purchasing an additional 16,800 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Neurocrine Biosciences were worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. increased its holdings in shares of Neurocrine Biosciences by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock worth $395,000 after buying an additional 297 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Neurocrine Biosciences by 64.0% in the 4th quarter. Corient Private Wealth LLC now owns 7,927 shares of the company’s stock worth $1,082,000 after buying an additional 3,094 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Neurocrine Biosciences by 5.1% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company’s stock worth $689,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after purchasing an additional 214 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Neurocrine Biosciences by 31.7% during the 1st quarter. Fifth Third Bancorp now owns 1,056 shares of the company’s stock valued at $117,000 after purchasing an additional 254 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NBIX. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. Guggenheim raised their target price on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and set a $145.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, June 2nd. Finally, HC Wainwright reduced their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $0.76 during mid-day trading on Friday, hitting $133.35. The company had a trading volume of 70,451 shares, compared to its average volume of 1,142,365. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The stock’s 50 day moving average price is $125.18 and its 200-day moving average price is $121.53. The company has a market capitalization of $13.20 billion, a P/E ratio of 45.19, a P/E/G ratio of 1.37 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. Neurocrine Biosciences’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider directly owned 18,289 shares of the company’s stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director directly owned 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,251 shares of company stock worth $14,978,602. 4.80% of the stock is currently owned by 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.