38,600 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 38,600 shares of the company’s stock, valued at approximately $4,852,000. Neurocrine Biosciences accounts for 0.8% of Bayesian Capital Management LP’s portfolio, making the stock its 18th largest holding.

Other large investors have also added to or reduced their stakes in the company. Dodge & Cox increased its stake in shares of Neurocrine Biosciences by 0.6% in the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after purchasing an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Neurocrine Biosciences by 59.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after buying an additional 1,590,749 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Neurocrine Biosciences by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock worth $170,281,000 after buying an additional 49,088 shares in the last quarter. Finally, Braidwell LP increased its stake in Neurocrine Biosciences by 32.2% in the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock worth $131,827,000 after buying an additional 290,135 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NBIX. Stifel Nicolaus upped their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler upped their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley cut their price objective on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $173.25.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the transaction, the insider owned 43,405 shares in the company, valued at $6,929,608.25. The trade was a 9.16% 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 William H. Rastetter sold 18,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares in the company, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,676 shares of company stock worth $5,624,529. 4.80% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Down 0.6%

NBIX stock opened at $154.75 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $160.18. The firm has a market capitalization of $15.43 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27. The company has a fifty day simple moving average of $145.04 and a two-hundred day simple moving average of $136.91.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The firm had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 EPS. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

About Neurocrine Biosciences

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.