Norden Group LLC Buys Shares of 2,848 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Norden Group LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,848 shares of the company’s stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. Mather Group LLC. purchased a new stake in Neurocrine Biosciences in the first quarter valued at approximately $26,000. Headinvest LLC acquired a new position in shares of Neurocrine Biosciences in the third quarter worth $28,000. Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth $31,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Barclays boosted their price target on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Wedbush restated an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday, May 1st. Finally, BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $152.58.

Insider Activity

In other news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Eric Benevich sold 19,818 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Cooke sold 10,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,697 shares of company stock valued at $13,377,515. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $146.50 on Friday. The company has a 50-day simple moving average of $137.87 and a 200-day simple moving average of $136.83. Neurocrine Biosciences, Inc. has a one year low of $94.16 and a one year high of $148.75. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 40.36 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Neurocrine Biosciences 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.