IFP Advisors Inc Increases Holdings in Neurocrine Biosciences, Inc. $NBIX

IFP Advisors Inc grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIXFree Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,172 shares of the company’s stock after buying an additional 88 shares during the quarter. IFP Advisors Inc’s holdings in Neurocrine Biosciences were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. Dodge & Cox grew its stake in shares of Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares during the last quarter. Swedbank AB grew its position in Neurocrine Biosciences by 5,078.9% during the first quarter. Swedbank AB now owns 429,697 shares of the company’s stock valued at $47,524,000 after buying an additional 421,400 shares during the period. Braidwell LP increased its holdings in Neurocrine Biosciences by 32.2% during the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after buying an additional 290,135 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $31,686,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NBIX. Morgan Stanley lifted their price target on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Stifel Nicolaus lifted their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a “buy” rating and a $182.00 price objective on the stock. Finally, Truist Financial began coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $163.00 price objective on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.44.

Read Our Latest Stock Report on NBIX

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Trading Down 0.2%

NASDAQ:NBIX opened at $137.52 on Friday. The stock has a 50-day moving average price of $138.35 and a 200 day moving average price of $125.73. The stock has a market capitalization of $13.64 billion, a P/E ratio of 40.69, a P/E/G ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61.

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

Neurocrine Biosciences Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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