Edgestream Partners L.P. Has $6.08 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Edgestream Partners L.P. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 84.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,194 shares of the company’s stock after buying an additional 20,189 shares during the quarter. Edgestream Partners L.P.’s holdings in Neurocrine Biosciences were worth $6,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences during the 1st quarter valued at $26,000. RFP Financial Group LLC boosted 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 worth $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at about $28,000. Innealta Capital LLC bought a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. bought 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.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Oppenheimer lifted their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. BMO Capital Markets reduced their price objective on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, August 29th. Finally, Morgan Stanley upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.20.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at approximately $975,853.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The disclosure for this sale can be found here. Insiders sold 71,798 shares of company stock worth $10,676,096 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $122.25 on Tuesday. The stock has a fifty day simple moving average of $140.55 and a two-hundred day simple moving average of $138.56. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 33.68 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 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 firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same quarter in the previous year, the company posted $0.95 EPS. The firm’s revenue was up 30.4% compared to the same quarter last year. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

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.