Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by Washington Capital Management Inc.

Washington Capital Management Inc. increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 54.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,100 shares of the company’s stock after purchasing an additional 1,800 shares during the period. Washington Capital Management Inc.’s holdings in Neurocrine Biosciences were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $26,000. RFP Financial Group LLC boosted its stake in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Neurocrine Biosciences during the second quarter valued at approximately $28,000. Innealta Capital LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter valued at approximately $30,000. Finally, New Covenant Trust Company N.A. bought a new position in Neurocrine Biosciences during the 1st quarter worth $32,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $1.22 during mid-day trading on Tuesday, reaching $117.66. 398,043 shares of the company traded hands, compared to its average volume of 850,062. The company’s fifty day moving average is $128.24 and its two-hundred day moving average is $135.36. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The stock has a market cap of $11.84 billion, a PE ratio of 32.34 and a beta of 0.36.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,789,638.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Julie Cooke sold 12,632 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,789,638.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the transaction, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,968 shares of company stock valued at $8,999,632 in the last quarter. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of several recent research reports. Robert W. Baird upped 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. Raymond James restated an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Barclays lowered their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Finally, Jefferies Financial Group boosted their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $164.52.

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.