1620 Investment Advisors Inc. Invests $118,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

1620 Investment Advisors Inc. bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 857 shares of the company’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vestal Point Capital LP purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $105,408,000. Los Angeles Capital Management LLC grew its stake in Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after purchasing an additional 364,986 shares in the last quarter. Norges Bank purchased a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $35,731,000. Vanguard Group Inc. increased its holdings in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $30,342,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Up 1.1 %

Neurocrine Biosciences stock opened at $152.57 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $103.63 and a 52-week high of $157.98. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 42.03 and a beta of 0.37. The firm has a 50-day moving average price of $143.22 and a two-hundred day moving average price of $139.20.

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

Insiders Place Their Bets

In related news, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the sale, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,798 shares of company stock worth $16,014,496. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

NBIX has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Oppenheimer boosted their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird increased their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on Neurocrine Biosciences from $136.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $161.32.

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.