Brookstone Capital Management Acquires Shares of 4,353 Neurocrine Biosciences, Inc. $NBIX

Brookstone Capital Management acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,353 shares of the company’s stock, valued at approximately $611,000.

A number of other large investors have also recently made changes to their positions in NBIX. State of Wyoming purchased a new position in Neurocrine Biosciences in the first quarter worth about $108,000. Vident Advisory LLC bought a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $202,000. Baird Financial Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 5.7% in the 1st quarter. Baird Financial Group Inc. now owns 57,820 shares of the company’s stock worth $6,395,000 after purchasing an additional 3,103 shares during the period. Royal Bank of Canada increased its position in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the last quarter. Finally, Palo Alto Investors LP purchased a new stake in Neurocrine Biosciences during the 1st quarter valued at $1,475,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $140.95 on Wednesday. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.27. The firm has a 50-day moving average of $147.06 and a two-hundred day moving average of $139.14. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18.

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 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 company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the sale, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the transaction, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. This represents a 67.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,866 shares of company stock worth $6,570,237 over the last quarter. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. UBS Group raised their target price on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Truist Financial reissued a “buy” rating and issued a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 30th. Finally, HC Wainwright raised their price objective on shares of Neurocrine Biosciences from $168.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $175.25.

About Neurocrine Biosciences

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.