Wolff Wiese Magana LLC Has $106,000 Stock Position in Neurocrine Biosciences, Inc. $NBIX

Wolff Wiese Magana LLC increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 982.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 844 shares of the company’s stock after acquiring an additional 766 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Neurocrine Biosciences were worth $106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted 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 acquiring an additional 135 shares during the period. WPG Advisers LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter worth approximately $34,000. SVB Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after acquiring an additional 214 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on NBIX. Royal Bank Of Canada lifted their price objective on Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Guggenheim lifted their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.89.

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company’s stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,960 shares of company stock worth $23,955,553 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $142.00 on Monday. The company has a market cap of $14.08 billion, a P/E ratio of 42.01, a PEG ratio of 1.02 and a beta of 0.28. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61. The stock has a 50 day simple moving average of $136.39 and a two-hundred day simple moving average of $123.41.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 earnings per share. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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.