Cornercap Investment Counsel Inc. Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Cornercap Investment Counsel Inc. bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,894 shares of the company’s stock, valued at approximately $1,224,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $26,000. RFP Financial Group LLC lifted its position in shares of Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in Neurocrine Biosciences in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $121.28 on Friday. The company has a market cap of $12.21 billion, a P/E ratio of 33.41 and a beta of 0.37. The stock has a 50-day moving average of $141.29 and a two-hundred day moving average of $138.66. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results 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). The firm had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Analyst Ratings Changes

NBIX has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Guggenheim raised their price objective on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Finally, UBS Group raised their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $162.20.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,741,180.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Julie Cooke sold 12,632 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the transaction, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock valued at $10,676,096 in the last three months. 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.