Sigma Planning Corp Takes Position in Neurocrine Biosciences, Inc. $NBIX

Sigma Planning Corp acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 10,008 shares of the company’s stock, valued at approximately $1,687,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $2,310,886,000. AQR Capital Management LLC lifted its holdings in Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares during the period. Norges Bank bought a new position in Neurocrine Biosciences in the 4th quarter valued at about $162,664,000. Bank of New York Mellon Corp bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth about $117,827,000. Finally, Ieq Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $107,914,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 0.0%

Shares of NASDAQ NBIX opened at $154.03 on Tuesday. 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 $15.66 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 0.72 and a beta of 0.39. The business has a fifty day simple moving average of $166.62 and a 200-day simple moving average of $149.62.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the previous year, the company earned $1.65 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. 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 report on Monday, August 3rd. Piper Sandler upped their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. TD Cowen lifted their target price on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.86.

Insider Activity

In other news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the sale, the director owned 1,588 shares of the company’s stock, valued at $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $178.72, for a total value of $1,507,145.76. Following the transaction, the insider directly owned 16,225 shares in the company, valued at $2,899,732. The trade was a 34.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 66,438 shares of company stock worth $11,461,708. Company insiders own 4.60% of the company’s stock.

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.