EdgeRock Capital LLC Takes $31,000 Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 217 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sawgrass Asset Management LLC purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $13,118,000. Charles Schwab Investment Management Inc. lifted its stake in Neurocrine Biosciences by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 686,835 shares of the company’s stock worth $90,497,000 after purchasing an additional 63,568 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $549,000. Sheets Smith Wealth Management purchased a new position in Neurocrine Biosciences during the fourth quarter worth approximately $270,000. Finally, National Bank of Canada FI grew its holdings in Neurocrine Biosciences by 2,192.0% in the 4th quarter. National Bank of Canada FI now owns 22,966 shares of the company’s stock valued at $3,025,000 after buying an additional 21,964 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays increased their price objective on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Citigroup upped their price target on Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $147.88.

Insider Activity

In related news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,044 shares of company stock valued at $24,399,293. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $4.17 during midday trading on Wednesday, hitting $139.02. The company had a trading volume of 653,593 shares, compared to its average volume of 845,459. Neurocrine Biosciences, Inc. has a 1 year low of $89.04 and a 1 year high of $148.37. The firm has a market capitalization of $13.99 billion, a P/E ratio of 38.30 and a beta of 0.28. The company’s 50-day simple moving average is $137.72 and its 200-day simple moving average is $129.51.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts predict that Neurocrine Biosciences, Inc. will post 4.78 earnings per share for the current fiscal year.

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.