Nicholas Investment Partners LP Invests $404,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nicholas Investment Partners LP acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, HoldingsChannel.com reports. The firm acquired 2,931 shares of the company’s stock, valued at approximately $404,000.

A number of other large investors also recently modified their holdings of NBIX. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth about $26,000. RFP Financial Group LLC boosted its stake 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 worth $26,000 after buying an additional 149 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at about $32,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary A. Lyons sold 930 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 owns 119,047 shares in the company, valued at approximately $17,860,621.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,798 shares of company stock worth $10,676,096. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Down 0.2 %

Shares of NBIX opened at $121.28 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $103.63 and a 12 month high of $157.98. The firm’s 50 day moving average is $141.29 and its 200-day moving average is $138.66. The stock has a market capitalization of $12.25 billion, a PE ratio of 33.41 and a beta of 0.37.

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

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Royal Bank of Canada cut their target price on shares of Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. Robert W. Baird raised their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Cantor Fitzgerald cut their target price on shares of Neurocrine Biosciences from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Barclays cut their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Five equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.20.

About Neurocrine Biosciences

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.