Impact Partnership Wealth LLC Purchases New Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Impact Partnership Wealth LLC purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,061 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Belpointe Asset Management LLC grew its stake in shares of Neurocrine Biosciences by 91.5% in the second quarter. Belpointe Asset Management LLC now owns 8,113 shares of the company’s stock valued at $1,117,000 after acquiring an additional 3,877 shares in the last quarter. Fortis Capital Advisors LLC grew its stake in shares of Neurocrine Biosciences by 91.5% in the second quarter. Fortis Capital Advisors LLC now owns 8,113 shares of the company’s stock valued at $1,117,000 after acquiring an additional 3,877 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Neurocrine Biosciences by 3.2% in the second quarter. Fiera Capital Corp now owns 527,902 shares of the company’s stock valued at $72,676,000 after acquiring an additional 16,360 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Neurocrine Biosciences by 0.7% in the second quarter. Rhumbline Advisers now owns 324,288 shares of the company’s stock valued at $44,645,000 after acquiring an additional 2,181 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Neurocrine Biosciences by 4.7% in the second quarter. CIBC Asset Management Inc now owns 3,400 shares of the company’s stock valued at $468,000 after acquiring an additional 153 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on NBIX. UBS Group upped their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Cantor Fitzgerald reduced their price objective on shares of Neurocrine Biosciences from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Finally, Citigroup increased their price objective 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. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.00.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $121.21 on Friday. The company has a 50 day simple moving average of $143.33 and a 200 day simple moving average of $139.21. The firm has a market cap of $12.20 billion, a PE ratio of 33.39 and a beta of 0.37. Neurocrine Biosciences, Inc. has a 1 year low of $103.63 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during 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 firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Neurocrine Biosciences Company 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.