OneDigital Investment Advisors LLC Takes $589,000 Position in Neurocrine Biosciences, Inc. $NBIX

OneDigital Investment Advisors LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,493 shares of the company’s stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares during the last quarter. Huntington National Bank raised its position in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after acquiring an additional 78 shares during the period. Main Management ETF Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after acquiring an additional 80 shares during the last quarter. Finally, Westpac Banking Corp boosted its holdings in shares of Neurocrine Biosciences by 6.0% in the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NBIX shares. Citigroup raised their target price on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price objective for the company. Morgan Stanley decreased their price objective on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a report on Thursday, August 13th. Finally, Truist Financial upped their target price on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the sale, the director owned 1,588 shares of the company’s stock, valued at $289,031.88. The trade was a 44.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 131,524 shares of company stock valued at $21,668,924 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Down 0.2%

NASDAQ:NBIX opened at $154.23 on Wednesday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The stock has a 50 day moving average of $167.59 and a two-hundred day moving average of $148.61. The firm has a market cap of $15.68 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 0.67 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Neurocrine Biosciences Profile

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.