Redwood Investment Management LLC Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Redwood Investment Management LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,652 shares of the company’s stock, valued at approximately $642,000.

Other institutional investors have also recently added to or reduced their stakes in the company. RFP Financial Group LLC raised its stake in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Neurocrine Biosciences during the first quarter worth approximately $26,000. Lindbrook Capital LLC raised its stake in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $31,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $33,000. 92.59% of the stock is owned by institutional investors.

Insider Activity

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the firm’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 directly owns 26,504 shares in the company, valued at $3,537,223.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction 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 approximately $3,537,223.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matt Abernethy sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,421,486.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,709 shares of company stock valued at $11,009,150. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NBIX shares. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 27th. HC Wainwright upped their price target on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $154.08.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $8.98 during mid-day trading on Thursday, hitting $150.55. The stock had a trading volume of 454,616 shares, compared to its average volume of 815,195. The business has a fifty day moving average price of $139.29 and a 200-day moving average price of $138.16. Neurocrine Biosciences, Inc. has a 52 week low of $100.52 and a 52 week high of $157.98. The firm has a market cap of $15.15 billion, a P/E ratio of 42.30 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.30 million during the quarter, compared to the consensus estimate of $512.21 million. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current fiscal 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.