Campbell & CO Investment Adviser LLC Takes $2.31 Million Position in Neurocrine Biosciences, Inc. $NBIX

Campbell & CO Investment Adviser LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,470 shares of the company’s stock, valued at approximately $2,312,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $27,000. Quent Capital LLC bought a new stake in shares of Neurocrine Biosciences in the third quarter valued at approximately $32,000. MAI Capital Management grew its stake in shares of Neurocrine Biosciences by 101.2% in the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after acquiring an additional 165 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Neurocrine Biosciences by 1,215.4% in the second quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after acquiring an additional 316 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $132.39 on Friday. The business has a 50 day simple moving average of $144.76 and a 200 day simple moving average of $139.88. The company has a market capitalization of $13.20 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 0.65 and a beta of 0.28. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 earnings per share. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NBIX has been the subject of several research analyst reports. Royal Bank Of Canada upped their target price on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. TD Cowen increased their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Truist Financial decreased their target price on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price target (up previously from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.10.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 40,360 shares in the company, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,866 shares of company stock worth $6,570,237 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences 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.