Caprock Group LLC Raises Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Caprock Group LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,669 shares of the company’s stock after buying an additional 109 shares during the period. Caprock Group LLC’s holdings in Neurocrine Biosciences were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NBIX. Norges Bank purchased a new stake in Neurocrine Biosciences during the fourth quarter worth about $35,731,000. The Manufacturers Life Insurance Company increased its stake in Neurocrine Biosciences by 18.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after purchasing an additional 18,070 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after purchasing an additional 8,630 shares during the period. Vanguard Group Inc. increased its stake in Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after purchasing an additional 150,485 shares during the period. Finally, Perceptive Advisors LLC increased its stake in Neurocrine Biosciences by 70.1% during the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after purchasing an additional 111,552 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NBIX has been the topic of a number of recent research reports. Robert W. Baird boosted their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a research report on Thursday, August 29th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Finally, Oppenheimer boosted their price objective on Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $162.20.

Neurocrine Biosciences Trading Up 0.8 %

Shares of NASDAQ NBIX opened at $122.25 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $103.63 and a twelve month high of $157.98. The stock has a 50 day moving average of $140.95 and a two-hundred day moving average of $138.57. The stock has a market cap of $12.34 billion, a P/E ratio of 33.68 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter in the prior year, the firm posted $0.95 EPS. Neurocrine Biosciences’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the sale, the insider now owns 6,607 shares in the company, valued at $975,853.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Julie Cooke sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at $2,731,028.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total value of $40,322.10. Following the sale, the insider now owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Company 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.