Pacer Advisors Inc. Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Pacer Advisors Inc. raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 76.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,890 shares of the company's stock after purchasing an additional 13,782 shares during the period. Pacer Advisors Inc.'s holdings in Neurocrine Biosciences were worth $4,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Neurocrine Biosciences during the first quarter valued at $26,000. RFP Financial Group LLC lifted 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 buying an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter worth about $28,000. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter worth about $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Neurocrine Biosciences in the first quarter worth about $32,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NBIX. Cantor Fitzgerald reissued an "overweight" rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. UBS Group raised their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a "buy" rating in a research note on Tuesday, May 28th. Citigroup raised their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Piper Sandler upgraded shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Finally, Barclays cut their price objective on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $162.20.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $1.94 during trading on Wednesday, reaching $114.55. The company's stock had a trading volume of 1,123,414 shares, compared to its average volume of 860,657. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 31.56 and a beta of 0.37. The stock's 50-day moving average price is $137.27 and its 200 day moving average price is $137.93. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares in the company, valued at $4,741,180.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares in the company, valued at $4,741,180.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares of the company's stock, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,798 shares of company stock worth $10,676,096. Corporate insiders own 4.30% of the company's stock.

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.