Stanley Laman Group Ltd. Boosts Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Stanley Laman Group Ltd. lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 36.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,531 shares of the company’s stock after purchasing an additional 10,088 shares during the period. Stanley Laman Group Ltd.’s holdings in Neurocrine Biosciences were worth $4,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its position in shares of Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after purchasing an additional 84 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Neurocrine Biosciences by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock worth $1,574,000 after acquiring an additional 90 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Neurocrine Biosciences by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after acquiring an additional 92 shares in the last quarter. Total Clarity Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 4.3% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock worth $335,000 after acquiring an additional 100 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Neurocrine Biosciences by 1.1% in the 1st quarter. Park Avenue Securities LLC now owns 9,570 shares of the company’s stock worth $1,320,000 after acquiring an additional 101 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $116.78 on Wednesday. The company has a market capitalization of $11.75 billion, a P/E ratio of 32.17 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The firm’s 50 day simple moving average is $124.72 and its two-hundred day simple moving average is $134.47.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total value of $1,740,475.10. Following the sale, the director now owns 119,047 shares in the company, valued at approximately $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the transaction, the chief financial officer now owns 31,528 shares in the company, valued at $4,741,180.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the transaction, the director now owns 119,047 shares in the company, valued at $17,908,240.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,968 shares of company stock worth $8,999,632. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of several research reports. Citigroup increased their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Guggenheim increased their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.91.

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.