16,659 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Grandfield & Dodd LLC

Grandfield & Dodd LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 16,659 shares of the company’s stock, valued at approximately $2,808,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $28,000. Basecamp Wealth Advisors LLC raised its holdings in Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after buying an additional 204 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences during the first quarter worth about $33,000. Finally, Meeder Asset Management Inc. boosted its stake in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Guggenheim boosted their target price on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings lowered Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $154.49 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.67 and a beta of 0.39. The company’s 50 day moving average price is $167.81 and its 200 day moving average price is $148.47.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 7.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the transaction, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at $2,899,732. This represents a 34.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 131,524 shares of company stock valued at $21,668,924. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.