EdgeRock Capital LLC Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EdgeRock Capital LLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 252 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds have also modified their holdings of the company. RFP Financial Group LLC grew its holdings in shares of Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Mather Group LLC. acquired a new position in Neurocrine Biosciences in the 1st quarter worth approximately $26,000. Lindbrook Capital LLC raised its position in Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at $32,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Up 0.2 %

Shares of NASDAQ:NBIX traded up $0.24 during trading on Friday, reaching $152.81. The stock had a trading volume of 527,833 shares, compared to its average volume of 814,573. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 42.10 and a beta of 0.37. The stock has a fifty day simple moving average of $143.56 and a two-hundred day simple moving average of $139.28. Neurocrine Biosciences, Inc. has a 52 week low of $103.63 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. During the same period in the prior year, the company posted $0.95 earnings per share. The firm’s revenue was up 30.4% compared to the same quarter last year. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBIX. BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Jefferies Financial Group upped their price objective on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 1st. Citigroup increased their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.32.

Insider Activity at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 930 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now directly owns 119,047 shares of the company’s stock, valued at approximately $17,860,621.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the transaction, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary A. Lyons sold 930 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares of the company’s stock, valued at $17,860,621.41. The disclosure for this sale can be found here. Insiders have sold a total of 111,798 shares of company stock valued at $16,014,496 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

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.