Silvant Capital Management LLC Acquires New Position in Neurocrine Biosciences, Inc. $NBIX

Silvant Capital Management LLC bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 20,706 shares of the company’s stock, valued at approximately $3,490,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its stake in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter valued at $33,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 1.7%

NASDAQ:NBIX opened at $152.93 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The company has a market cap of $15.55 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.73 and a beta of 0.39. The company has a 50 day simple moving average of $167.29 and a two-hundred day simple moving average of $148.85.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $1.20. The firm had revenue of $959.00 million for 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 company’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. Research analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NBIX. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target for the company. Wedbush increased their price objective on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Royal Bank Of Canada boosted their target price on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Truist Financial upped their target price on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company 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 issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.86.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. 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 worth $21,668,924 in the last three months. 4.60% of the stock is owned by insiders.

Neurocrine Biosciences Company 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.