Burney Co. Purchases 19,302 Shares of Neurocrine Biosciences, Inc. $NBIX

Burney Co. boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 202.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,825 shares of the company’s stock after purchasing an additional 19,302 shares during the quarter. Burney Co.’s holdings in Neurocrine Biosciences were worth $4,046,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter worth about $32,000. MAI Capital Management lifted its position in Neurocrine Biosciences by 101.2% in the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after acquiring an additional 165 shares in the last quarter. True Wealth Design LLC lifted its position in Neurocrine Biosciences by 1,215.4% in the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock valued at $43,000 after acquiring an additional 316 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Neurocrine Biosciences by 26.4% during the 2nd quarter. Huntington National Bank now owns 604 shares of the company’s stock valued at $76,000 after purchasing an additional 126 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In other news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction that occurred 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 owned 40,360 shares in the company, valued at $6,127,455.20. This trade represents a 30.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 5,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the completion of the sale, the director directly owned 7,429 shares in the company, valued at $1,130,916.67. This trade represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 43,866 shares of company stock worth $6,570,237. 4.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NBIX. UBS Group increased their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Morgan Stanley lowered their price target on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Truist Financial reaffirmed a “buy” rating and set a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Stifel Nicolaus increased their target price on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.25.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $145.26 on Friday. The firm has a market cap of $14.48 billion, a PE ratio of 34.75, a P/E/G ratio of 0.95 and a beta of 0.27. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18. The stock has a fifty day moving average price of $147.05 and a 200-day moving average price of $138.78.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.